Helping the Bottom Billion

By Winston Hottman

What keeps the poorest of the poor stuck in poverty? In an article at First Things, George Weigel summarizes four root causes, as identified in a book by Paul Collier’s, The Bottom Billion:

Collier, who studied the varying impacts of development assistance at the World Bank before teaching economics at Oxford, lists four “traps” that hold the “bottom billion” down. There is the “natural resource trap,” in which oil, minerals, or other marketable resources make a few oligarchs and politicians rich but deflect a country’s attention from pursuing the human and material infrastructure of genuine economic development. There is the “conflict trap,” in which countries are destroyed, economically, by civil wars and/or genocides. There is the “bad governance trap,” in which corruption and misgovernance waste development aid and make it impossible for investment to flourish (given what amounts to endemic lawlessness). And there is the curse of geography, by which landlocked countries in a bad neighborhood find their commerce and communications strangled.

Consequently, the fight against global poverty will require more than just foreign aid. Foreign policy initiatives that help societies to overcome these four obstacles, assimilate into the global economy, and build infrastructures that can begin to produce for themselves will help to generate the kind of long term development that is necessary to benefit those in abject poverty.

Check out the rest of the article here.  

This entry was posted in Economics, Politics, Sociology and tagged , , , . Bookmark the permalink.

One Response to Helping the Bottom Billion

  1. Rathi says:

    I totally agree with your view but all this cannot be achieved without foreign aid. What we need is foreign aid, especially from countries like USA, that is used for right purposes. It is imperative to have transparency in foreign aid spending and efforts put into deciding where and how the money should be spent. Involving local people and their know-how of the resources and culture, will go a long way in uplifting the bottom billion.

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