Lately Bono, Simon Cowell, Bill Gates etc have been decrying the terrible conditions in Africa. And the conditions are terrible-but not for the lack of natural resources or creative people. John Stossel makes the point that Gates misses in his address to Harvard. And as Stossel mentions, perhaps Gates would still not get it if he had stayed to get a degree, after all this is Harvard. Stossel has been championing the cause of common sense in tv spots, columns, and books. The problem in Africa is rather corrupt governments that make trade and open markets near impossible. All the productive resources are converted into private bank accounts for those in power, the public be damned. If you have not seen The Last King of Scotland , it is out on video, and that sorry spectacle continues in places like Uganda today.
Capitalism, it works.
Professor Elam 
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