A Revolutionary Idea

Courtesy of William Easterly (who, if there is any justice in the world, will be awarded the Nobel Prize in Economics): Too much of America’s foreign aid funds what I call authoritarian development. That’s when the international community–experts from the U.N. and other bodies–swoop into third-world countries and offer purely technical assistance to dictatorships like …

Bono: Smarter than the Average Celebrity

Don't believe me? Read this: Just recently drawing upon his Christian faith (and possibly the economics influence of Professor Ayittey?), in a speech at Georgetown University, Bono altered his economic and political views and declared that only capitalism can end poverty. “Aid is just a stopgap,” he said. “Commerce [and] entrepreneurial capitalism take more people …