How could so many rich countries be so poor? They have some of the largest mineral and natural resources in the world.
What The Third World needs is simple capitalism. Nothing fancy just Economics 101 capitalism.
They need freedom, political and economic.
These countries need to promote private property rights, and more importantly, governments who understand the connection between the rule of law and prosperity.
Therefore, I would make the following suggestion. Every Third World leader should be required to read a book before they get another dime from the US, IMF or anybody else.
Let them pick up "Free to choose" by Milton Friedman, the same one who spearheaded the Chilean revival of the late 1970's.
These books will give these leaders a lesson on the failure of 3rd world economies.
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