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Old 03-17-2009, 08:58 PM
 
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Good article.

Quote:
Africa is poor today because Swiss and other western banks collude with African kleptocrats to loot the continent. Corruption is rife on the continent because those who steal the money never lack a place to hide it...

The African Executive | Graft in Africa: Where Does the Buck Stop?
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Old 03-18-2009, 05:24 AM
 
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Indeed. I believe that it is a coincident that national IQ estimates and the wealth of nations has such a high correlation.

- Reel
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Old 03-18-2009, 06:24 AM
 
Location: Londonderry, NH
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The World Bank and the IMF were not designed to spread prosperity but to insure poverty and cheap resources and cheaper labor to mine them. The societal and economic rot starts at the top.
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Old 03-18-2009, 06:51 AM
 
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Originally Posted by Reelist in Atlanta View Post
Indeed. I believe that it is a coincident that national IQ estimates and the wealth of nations has such a high correlation.

- Reel
Reel as in fishing, as in trolling, not quite as hard as being REAL!

Read, "Guns, Germs and Steel" and get back to us.
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Old 03-18-2009, 10:42 AM
 
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As far as the WB & IMF.

I hear and read where so many people are criticle of the World Bank and IMF but I haven't seen much of the same outrage aimed at Swiss banks and other countries that help corrupt leaders to loot their countries. Are too many people overlooking their role in world poverty? I mean much of those IMF and World Bank loans end up in these foriegn bank accounts. With so much mineral wealth being looted why do African countries in particular even need to deal with the IMF and WB for money? Let's focus on stopping the looting and stashing.
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Old 03-18-2009, 11:00 AM
 
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To say that Africa is poor because its corrupt leaders have secret places to hide their loot is... preposterous.
Also Africa's problems were debated at large on a separate thread:
//www.city-data.com/forum/world...d-failure.html

Last edited by oberon_1; 03-18-2009 at 11:14 AM..
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Old 03-18-2009, 11:31 AM
 
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Originally Posted by ovcatto View Post
Reel as in fishing, as in trolling, not quite as hard as being REAL!

Read, "Guns, Germs and Steel" and get back to us.
"Guns, Germs and Steel" came to mind first when opening this thread. Good to see others are in the know as well.
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Old 03-18-2009, 12:42 PM
 
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Originally Posted by oberon_1 View Post
To say that Africa is poor because its corrupt leaders have secret places to hide their loot is... preposterous.
Could you elaborate? Why wouldn't being able to stash stolen oil revenue not affect countries like Nigeria and Angola? What is this oil money supposed to be used for? Development,right?

This stashing of money isn't the only thing keeping Africa poor. You also have leaders who don't understand economics not putting in place economic reforms that can really help their countries to turn around.
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Old 03-18-2009, 01:22 PM
 
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Originally Posted by Motion View Post
Could you elaborate? Why wouldn't being able to stash stolen oil revenue not affect countries like Nigeria and Angola? What is this oil money supposed to be used for? Development,right?

This stashing of money isn't the only thing keeping Africa poor. You also have leaders who don't understand economics not putting in place economic reforms that can really help their countries to turn around.
Africa is a big continent which is quite divert. You are only pointing at symptoms that can be seen on the surface. However, in many places, they suffer from deep problems which stem from the local culture.
Ask why so many corrupt leaders are elected and why is the corruption so widespread? No, not because of World Bank and the IMF...
One cause is that former European colonizers carved Africa according to their needs and forced peoples of different origins to coexist in artificially made states. It resulted in a high degree of suspicion and hostility inside many African countries. Other reason is the tribal structure and loyalties which push "their people" to rule. Many of these leaders serve only narrow interests, while ignoring the rest of the population. There is a tradition of tolerance for corruption and indifference to suffering. Another factor is the lack of discipline and disregard for the law.
However, the situation is not the same everywhere. Some countries actually made noticeable progress.

Last edited by oberon_1; 03-18-2009 at 01:46 PM..
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Old 03-18-2009, 02:14 PM
 
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Quote:
Originally Posted by oberon_1 View Post

One cause is that former European colonizers carved Africa according to their needs and forced peoples of different origins to coexist in artificially made states. It resulted in a high degree of suspicion and hostility inside many African countries.
One possible solution here could be for Africans to redraw or change some of those boundaries. But if that doesn't happen then these tribal/ethnic problems could be reduced by implementing democratic reforms influenced by pre-colonial African styles of governance.

Before colonialism many African societies were organized into confederations which allowed for a good amount of independence of groups within an area from the central power. This approach to governing could be updated for African countries today. After independence too many African leaders chosed some form of dictatorship or autocratic rule. This isn't a good way to run an diverse country.

I'd also suggest that more African countries adopt more market reforms to reduce the role of gov'ts in the economy. African countries such as Botswana and eastern European countries such as Estonia and Poland have provided good models for market reforms that lessons can be learned from.
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