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> Congo badly needs money No, money is a veil. When people say "X needs more money", what they usually mean is "X needs more productive resources". But giving
by rsj_hn 5y ago
> Congo badly needs money
No, money is a veil. When people say "X needs more money", what they usually mean is "X needs more productive resources". But giving someone foreign currency doesn't result in increasing their productive resources. And the greatest productive resource that is lacking in Congo is state and private capacity to develop productive ecosystems. As long as productive resources are viewed as prizes that people fight over controlling with the gun being the ultimate determinant of who gets to own the prize, then Congo will remain a poor nation unable to produce much on its own.
Remember that money is paper, and Congo can print its own. The only reason to give Congo American paper is to let them import more foreign consumption, which may be nice, but isn't going to help Congo develop what it really needs, which is skilled workers, respect for rule of law, property rights, an impartial judiciary and integrity on the part of local officials. In fact, flooding Congo with foreign money undermines all of the above, because it merely increases the pool of prizes that people with guns can fight over.