By Edward Miguel
Edward Miguel, coauthor with Raymond Fisman of financial Gangsters: Corruption, Violence, and the Poverty of countries, is affiliate Professor of Economics and Director of the guts of Evalulations for worldwide motion on the collage of California, Berkeley.
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Additional resources for Africa's Turn? (Boston Review Books)
S. cotton farmers have received more than $3 billion a year in government subsidies. S. production floods global markets is it africa’s turn? and drives down world cotton prices, hurting millions of poor cotton farmers in Benin, Burkina Faso, Mali, and Tanzania, for whom higher cotton prices would improve living standards. S. policymakers are genuinely interested in keeping Africa’s current economic turnaround going, reducing agricultural subsidies to our domestic cotton farmers would be an obvious starting point.
Africa out of their “poverty traps,” situations in which countries’ own poverty prevents them from bootstrapping their way to a better future. Sachs’ position is that a large aid infusion will provide poor Africans with enough spare cash to save, invest, and finally grow on their own. Opponents of increased foreign aid, led by William Easterly at NYU, point to the fact that Africa remains desperately poor today despite the hundreds of billions of dollars of aid that have already been routed there.
Further complicating matters, leaders and citizens trying to assemble structures of civic life must contend with the immediate economic imperatives of boosting agricultural productivity, educating the workforce, and building a modern transportation infrastructure. Historically, the process of creating viable nations has been costly in time and blood. The closest parallel to Africa’s painful post-colonial transition is probably Latin America’s trajectory after its independence from Spain and Portu edward miguel gal in the 1810s and 1820s.