When $70 Billion isn’t enough January 26, 2008Posted by federalist in Economic Policy.
Is Bill Gates discovering that even a charitable fund of $70 billion can’t put a dent in a world of government interference? We don’t need a “revision” of capitalism to improve the lot of poor countries. We could start with a more faithful implementation of capitalism: One in which developed countries do not erect tariffs against the export goods of poor countries, and one in which the foreign policy of developed countries does not prop up political regimes that obstruct market forces. The last thing we need is more government meddling with incentives and policies that inevitably derail the beneficent forces of capitalism.