The third world debt problem is partially caused by kleptomaniac leaders who may have stole a portion of it, however, this is not the only (or main) reason. To put it briefly...
1) Third world countries (like those in Africa) pull raw materials from their resources, in turn selling them to first world countries for cheap.
2) First world countries take those raw materials and use them to manufacture expensive goods.
As John Adams first noted, it is capital, and not money, that makes a country prosper.
3) So now we have the third world countries, which are unable to afford the capital produced, scraping together the raw materials to make a living - thus, again, starting this cycle of poverty.
Creating scapegoats out of the leadership will not solve this vicious cycle. Infusing capital and knowledge on how to use that capital may be a better approach in conjunction to setting up strategic trade barriers to allow the fledging economy time to create a solid foundation before facing fierce foreign competition.
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Telecosm
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Thanks Gabey!!!
I had just ordered this book on Amazon when I came across your youe message.
I planned to buy it anyway, for I had a 30 minute conversation with my optometrist the other day who raved about this book (he trades in technology firms, go figure). He stated it was necessity for anyone who wants to start investing in technology.
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The third world debt problem is partially caused by kleptomaniac leaders who may have stole a portion of it, however, this is not the only (or main) reason. To put it briefly...
1) Third world countries (like those in Africa) pull raw materials from their resources, in turn selling them to first world countries for cheap.
2) First world countries take those raw materials and use them to manufacture expensive goods.
As John Adams first noted, it is capital, and not money, that makes a country prosper.
3) So now we have the third world countries, which are unable to afford the capital produced, scraping together the raw materials to make a living - thus, again, starting this cycle of poverty.
Creating scapegoats out of the leadership will not solve this vicious cycle. Infusing capital and knowledge on how to use that capital may be a better approach in conjunction to setting up strategic trade barriers to allow the fledging economy time to create a solid foundation before facing fierce foreign competition.
Thanks Gabey!!! I had just ordered this book on Amazon when I came across your youe message. I planned to buy it anyway, for I had a 30 minute conversation with my optometrist the other day who raved about this book (he trades in technology firms, go figure). He stated it was necessity for anyone who wants to start investing in technology.