Lack of Modern Values and Free Market Economies

SummaryAcknowledgementIntroductionWhy Should We Help?The BenefitsThe Venture ItselfHow to Avoid the Marie Antoinette SyndromeThe Action PlanConclusionSelected Bibliography


The lack of modern values is a charge that has been laid against nearly every country and/or culture that has not been a fortunate part of the Fertile Crescent’s legacy and onslaught around the world.

One recent study attributed African poverty to a dislike of work, suppression of individualism, and irrationality. . . . The idea that whole societies are condemned to poverty because of their values has a long history, but one that is seldom useful. (Sachs, 2005, p. 315)

Similar views have in the past been expressed about Japan, Ireland, Italy, China, and India. But when these countries become successful economically, this argument vanishes and is never voiced again. Instead, such countries are lauded for their industriousness and hard work. (Sachs, 2005, p. 315-318)

A similar argument explaining Africa’s extreme poverty is that African countries have not yet embraced free market economies. Thus, the argument goes, Africa remains desperately poor. But again, studies have shown that, throughout the world, economic growth can be high, despite low economic freedom. China is a prime example. (Sachs, 2005, 318-320)


Read More: It’s Their Own Fault If They Are PoorJared Diamond and Western (Cargo)Ineffective AidMuhammad Yunus and MicrocreditUnscrupulous PeopleThe SystemGrameen BankIt Doesn’t Affect Us, So Why Should We Care?The Poor Will Always Be With UsThere Is No Point In Giving AidWhere Does All The Money Go?Africa’s Onerous ChallengesAfrica’s Extreme PovertyCorruption and Poor GovernanceLack of Modern Values and Free Market EconomiesA Population Explosion?Why Not Leave It to the United Nations and the World’s Governments?The UNThe Governments of the WorldGrassroots Movements