February 2021

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« Did the Gold Standard Cause the Great Depression? | Main | The Gold Standard, the Great Depression, and Some Current Monetary Worries »


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I would submit that the origin of hatred of capitalism is at least partially due to its percieved link to imperialism. Lal himself has contributed to this problem with his book In Praise of Empires.

I would like to see more attention paid to those who would keep the poor nations poor. In particular I mean
(1) the United Nations' "Agenda 21", which otherwise pro-growth President Bush has now signed; and
(2) the world environmental movement, which is largely a cover for a group that want to cartelize the world economy along the lines of the former Soviet Union, with themselves in charge.
As these groups become successful they will be able to do a lot more damage than they have up to now.

Aside from them, the main thing that keeps poor countries poor is their own government leaders, who grab whatever they can plunder to enrich themselves personally, with no thought for how this practice makes it completely unsafe for anybody to invest in their countries' economies.

Perhaps it would be more productive for potential investors to buy out these strongmen, giving them the money to move somewhere nice and retire, than to continue the political and diplomatic efforts which have so far almost always failed to persuade them to change their ways.

Then again, politically incorrect as it is to say so, some national/cultural mindsets are just plain economically counterproductive to a tragic degree, such that the only way their lot is ever likely to improve is if some advanced country puts them under colonial rule for a century or two. It's too bad that the current state of weapons tech makes doing so unaffordable. Maybe in another century that will change again.

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