"The biggest poverty-reduction measure of all is liberalising markets to let poor people get richer. That means freeing trade between countries and within them“ You may have read The Economist’s article below, who claims that economic growth had the most impact on reducing poverty (not the Millenium Development Goals or development aid)… Of course, such a claim shouldn’t be a surprise coming from The Economist, but is still worth discussing. Personally, I am cautious of any institution that treats economic growth as a holy grail given that it’s based on the foolish ignorance of the environmental and social costs that inevitably come with it. A theory that purports infinite growth despite finite resources is fundamentally flawed. Yet, the arguments presented by The Economist will likely influence a sheer number of decision-makers around the world, so we can’t ignore it. “The MDGs may have helped marginally, by creating a yardstick for measuring progress, and by focusing minds on the evil of poverty. Most of the credit, however, must go to capitalism and free trade, for they enable economies to grow—and it was growth, principally, that has eased destitution.”
Posted on: Tue, 11 Jun 2013 16:01:28 +0000
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