In a perfect world what poor countries at the lowest rungs of economic development need is not a multi-party democracy, but in fact a decisive benevolent dictator to push through the reforms required to get the economy moving
Interpretation
The quote suggests that some countries may benefit from strong leadership rather than democratic processes to achieve economic progress.
Dambisa Moyo argues that in certain impoverished nations, the complexity and inefficiency of multi-party democracy can hinder necessary economic reforms. Instead, she advocates for a benevolent dictator who can implement decisive and effective policies to stimulate growth and development, emphasizing the need for pragmatic solutions in challenging socioeconomic contexts.
In practice
This quote can be used in a discussion on effective leadership in economic policy at a conference.
Ask most people who live in a home and have a mortgage on it whether they own their own home and the answer is almost guaranteed to be a resounding 'yes'. Yet it's the wrong answer. Technically speaking, until they have paid the mortgage off, they don't own it. Herein lies the difference between reality and illusion, between ownership and control. This confusion lies not only at the individual level, but also at the heart of government thinking.
Under the all-encompassing aid system, too many places in Africa continue to flounder under inept, corrupt and despotic regimes who spend their time courting and catering to the demands of the army of aid organizations.
Too many African countries have already hit rock-bottom - ungoverned, poverty-stricken, and lagging further and further behind the rest of the world each day; there is nowhere further to go down.
I am fortunate: my parents told me the world was my oyster, when they could have said I wouldn't make it for a lot of reasons - rural, girl, small African country. So, no regrets.
I wish we questioned the aid model as much as we are questioning the capitalism model. Sometimes the most generous thing you can do is just say no.
China is attempting the death-defying feat, which no one has attempted in the history of the world, which is to move a billion people out of poverty. When I speak to Chinese policy-makers, the thing that annoys them the most about Western policy-makers is that they're not given any credit for anything.
Regulation has gone astray. . . . Either because they have become captives of regulated industries or captains of outmoded administrative agencies, regulators all too often encourage or approve unreasonably high prices, inadequate service, and anticompetitive behavior. The cost of this regulation is always passed on to the consumer. And that cost is astronomical.
President Bush announced his new economic plan. The centerpiece was a proposed repeal of the dividend tax on stocks, a boon that could be worth millions of dollars to average Americans. Well, average stock-owning Americans. Technically, Americans who own a significant amount of shares in dividend-dealing companies. Well, rich people, that's what I'm trying to say. They're going to do really well with this.
Those on the downside of rising economic inequality generally do not want government policies that look like handouts. They typically do not want the government to make the tax system more progressive, to impose punishing taxes on the rich, in order to give the money to them. Redistribution feels demeaning. It feels like being labeled a failure.
One of the market's virtues, and the reason it enables so much peaceful interaction and cooperation among such a great variety of peoples, is that it demands of its participants only that they observe a relatively few basic principles, among them honesty, the sanctity of contracts, and respect for private property.
As our economy faces up to potential labour shortages due to our ageing population and as it moves to a new level of sophistication to compete with the rest of the world, we're going to need every Australian on board pulling their weight, rejoining the workforce, gaining new skills. Writing off individuals and communities suffering from poverty just creates a dead weight for our economy to drag along.
At present we are stealing the future, selling it in the present, and calling it gross domestic product.
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