Thursday, May 1, 2014
Chapter 13
"Corruption is not merely an inconvenience, as it is sometimes treated; it is a cancer that misallocates resources, stifles innovation, and discourages foreign investment" (Wheelan 296). This quote ties in perfectly with what we were taking about in class on Wednesday and watching in the movie. In countries where the land belongs to the government no intelligent person is going to attain success. They are going to leave their country and go prosper I another country like the US. This just causes a spiral downward for these other countries. This frustrates me because these counties could potentially pull themselves out of the holes that they are in by simply letting their people be innovative, but because the power is held by a few people at the top this is very unlikely to be achieved.
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Instead of moving to another country like the US to be successful, Wheelan said that people from rich countries should improve struggling countries by helping individuals, like eduacting them which would improve one of the important factors which contributes to economic growth, human capital.
ReplyDeleteI agree with your stance in how people cannot climb out of poverty when successful people at the top of a country's politics control the resources of a country.
ReplyDeleteIt's terrible that when people are educated and successful in third world countries they are essentially forced to to relocate. Too much regulation and government control will cause people to start their businesses else where. It's such an unfortunate cycle and I think a main focus should be finding ways for people to become successful in their home land.
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