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The question is: why does the wealth of Africa fail to trickle down to the masses who suffer abject poverty in the midst of plenty?
The Problems Of BIG Government And Corruption
A major factor responsible for the impoverishment of the African people is big government. A penchant for creating jobs for party members, relations, and friends leads to over-bloated "governments" across Africa.
Often, ministries and departments are created haphazardly without due regard for economy or efficiency. In per capita terms, African countries tend to have more ministries, ministers, and parliamentarians than other developing or developed countries...
Basically too many ministers are eating up much of the money from Africa's natural resources and foriegn aid that could be better used in other areas for their country's development.
This government aid, Mwenda feels, does little more than allow governments to spend beyond their means.
Where does the government money go? He argues that it goes disproportionately – roughly 25% of the Ugandan national budget – to “public administration”, in other words, “mostly patronage”.
He points to 70 government ministers and 114 presidential aides, “who never see the president except on television… and then the President advises him, not the other way around.” There’s 333 members of parliament – “you need Wembley Stadium to hold our parliament.” Mwenda believes that cutting international aid would force governments to cut their own spending and address these core questions like corruption.
Because the trickle down theory of economics is one of the biggest lies ever told.
Here's how trickle down works. Put a bunch of ice cubes in a glass, and then pour in a little water. Watch it trickle down. But wait, the experiment is not over yet. Now put a straw down in there and see how easy it is to suck it all back up.
Because the trickle down theory of economics is one of the biggest lies ever told.
What should Africa do to revert this? Or find another way?
Quote:
Originally Posted by jtur88
Here's how trickle down works. Put a bunch of ice cubes in a glass, and then pour in a little water. Watch it trickle down. But wait, the experiment is not over yet. Now put a straw down in there and see how easy it is to suck it all back up.
By trick down economics you mean free market economy?
What should Africa do to revert this? Or find another way?
By trick down economics you mean free market economy?
How can Africa improve and reduce poverty?
By adopting a more socialist posture, in which the wealth and prosperity of the country is distributed among all the citizens, and not just a few capitalists. This is almost impossible to do without a bloody revolution, because the international banking cartel is already in there controlling the distribution of the wealth. The entrenched principle is "If there isn't any work for you to do today, there will not be any food for your children. Pull yourself up by your bootstraps (in a village with no schools and no safe drinking water) and you, too, can be a shareholder in a multinational corporate empire."
If a country's entire GDP for decades ahead is already owed to multinational bankers, with an IMF mandate to use borrowed funds to trade with multinational corporations on their non-negotiable terms, what chance is there to get out of the wheel?
When protesters are in the streets at World Bank conferences, protesting third world development policies, why do you suppose big bank shareholders are not out in the streets saying they want their share of Africa, too? Because they're already getting it? If you want to know what is going wrong in African economic development, follow the protests.
The USA should help them out and send all of the management people from Detroit down to help.
Good idea because Detriot can teach African countries what not to do.
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