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Without knowing too much about Ghana specifically, I have been to third world countries and seen some of the conditions that prevent an economy from flourishing
by chrisco255 3y ago
Without knowing too much about Ghana specifically, I have been to third world countries and seen some of the conditions that prevent an economy from flourishing. It is usually a lack of property rights altogether (autocratic governments that take from individuals at will, which you can only avoid by being too small to cut down), deep corruption in the government that basically runs on bribes (whereby the highest bidders thrive), endless violence or war preventing an area from being able to benefit from long-term investment (either public or private), a broken currency system, a broken or nonexistent legal system to settle property disputes. A lack of skilled labor in the country itself, due to brain drain, war, and nonexistent infrastructure.
- vkou 3y agoThere clearly are property rights, since the landowners seem to be reaping the lion's share of the bounty, year after year. Perhaps they are not property rights that serve the people doing the work, but that's a separate problem.
- gruez 3y ago>since the landowners seem to be reaping the lion's share of the bounty, year after year. Where does it say that? It's not mentioned in the CBS article nor the youtube video.