Why does poverty persist?

Foundation for Economic Education
by Manuel F. Ayau

01/04/07

Beginning with Bill and Melinda Gates and Warren Buffet, everyone wants to do something to end poverty in the world. That's supposedly why the World Bank and myriad other expensive international institutions, plus the foreign-aid programs of developed nations, were created. But they've been at this effort for more than 50 years, and judging by the state of the underdeveloped world, there is little evidence of success. Even some of their own experts admit this. Why the poor results? A consideration of the reason for this colossal failure is necessary if we want to help the poor create prosperity...

//www.fee.org/in_brief/default.asp?id=1021


Informant: Thomas L. Knapp



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