The Politically Incorrect Guide to Ending Poverty
8th August 2010
In the 1990s, Paul Romer revolutionized economics. In the aughts, he became rich as a software entrepreneur. Now he’s trying to help the poorest countries grow rich—by convincing them to establish foreign-run “charter cities” within their borders. Romer’s idea is unconventional, even neo-colonial—the best analogy is Britain’s historic lease of Hong Kong. And against all odds, he just might make it happen.
As Reagan so famously said, there are simple answers to these problems, just not easy ones. These simple answer typically boil down to: Keep government bureaucrats away from the economy (taxes and regulations), and people will amaze you with what they can do.