Current Events — HabitableZone

Current Events » in reply to T-I-C

Re: T-I-C

Okay, the sarcasm on the World Bank expresses an opinion I generally share.

However, one must also remember that whether the World Bank is involved or not, most undeveloped nations have to go through a growth period where they are basically doing scutwork--like making shoes--until they have gotten to the point where they can get beyond it. Fortunately, in recent history, this period has gotten a lot shorter than it used to be.

I'm old enough to remember when "made in Japan" showed up on tin toys and cheap radios, and was a standing joke for something you would see on a cheap product.

Not anymore.

It is critical that East Timor adopt a free market policy on their economic development. Hong Kong was a set of islands with zero natural resources. All it took to make it rich was the right economic policy, i.e. as close to laizzes-faire as was possible. If East Timor does this, everything else will take care of itself given time.

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