Africa is Not Poor Because of Colonization

well you you list here in one of your articles uh where you make reference to these rating systems the bottom 10 countries for doing business in the world Chad Haiti Central African Republic Congo Democratic Republic South Sudan Libya Yemen Venezuela there's a lovely example Eritrea and Somalia and so there are three exceptions in the African ecosystem Mauritius Rwanda Kenya South Africa Botswana and Zambia you pointed out in your prospectus is it prospectus or the prospectus article of uh right Institute right that Mauritius is a rising star on Rwanda is in some ways comparable to Georgia

so some of these countries have started to get this right yes and so what's the consequence of that and what does right mean what they have understood what these countries have understood is that economic freedom is at the center for Prosperity building uh Rhonda for example Paul kagame the president of Rwanda is explicit about it he said he wants to be the liqu he wants to be with Singapore of Africa and Lee kuang Wu is his model now the dirty Mouse are gonna start shouting oh yeah see authoritarian blah blah blah whatever me I want

to talk only about the um on the economic side if you take Lee kuang Wu and Singapore as your example then it means that like him you're gonna have to be serious about economic freedom and that's exactly what he did that's what Singapore did when Singapore figured that out they went on to put in the right reforms to make their environment the most some of the most business friendly environments in the world one of the most free markets environment in the world and you saw the magic of Singapore today Singapore is richer than its ex-colonizer

Great Britain so when I hear people telling me today oh Africa is poor because of colonization I'm like please let's move on from that does it have maybe a tiny percentage in where we are today maybe maybe and I don't know but I know it's not the cause because if it were many countless countries have been colonized before and by the way colonizing one another is is Humanity's history it just happened that maybe African Africa has been one of the the last you know um colonized region in the world so enough psyche it it is

there and it acts like nothing happened before to others but uh flash news it's the history of the world we've been capturing each other back and forth all of that so anyway but the truth is um Singapore Rich Urban Great Britain today and then Hong Kong happened and then because Hong Kong happened China even today happened because China is like wait a minute what went on over there and then China went on to do exact same thing with its secs the special economic zones some of the most free market zones in the world and then

look at it happen in Commons China who when it comes to economics decided that we're going to do the free market we're going to be capitalist because that's the only way we tried everything else we killed hundreds of millions of people and and we have and we have nothing to show for it but now that we're tired of being disrespected members of society because guess what that's the other thing too you want to be respected in this world you're going to have to be among the prosperous ones for other reasons would it be nice gee

that we respect people just because absolutely but that's really not the world we live in so when China got tired of being disrespected by like maybe we got to build also some Prosperity here because when we're going to hear us and today China being one of the you know being where it is at even Hollywood Hollywood who tries to tell the world how to think is being told by China what movies to make and how to tweak stories and history in order to be palatable for them you see the power that comes with with being

prosperous the Consumer Price Index has reached yet another 40-year high and the latest GDP numbers confirmed that the United States is in a recession now is not the time to have all your money in the stock market or tied to the US dollar protect your savings from a highly turbulent economy by diversifying at least some of your Investment Portfolio into gold and silver from Birch gold group text Jordan to 989898 and Birch gold will send you a free information kit on how to transition an IRA or eligible 401K into an IRA and precious metals Birch

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Senegal to get the hell out of the way let's say of the people who would like you would try to would do everything they could to try to make it better I mean one of the things that happened with India is India established the Indian Institute of Technology which is a deadly engineering school and a huge number of its graduates went to Silicon Valley as you well know and many of the successful Indian graduates of IAT started to dump money back into India and build a capitalist infrastructure there or help build a capitalist infrastructure there

so this sort of thing can really take hold if you were making recommendations to governments who wanted to get on board and stop being like Chad Heidi Central African Republic Congo South Sudan Libya Yemen and Venezuela Etc what what concrete steps should they take from the bottom up to get the hell out of the way exactly so two things we've been doing uh because I'm an I'm a practitioner as that's my Enterprise so I practice what I preach but I also preach I preach for free markets and so when it comes to that I'm I'm

one of the hats that I wear is as the um director for the African Center for prosperity of the atlas Network the largest organization in the world of um free market think tanks around the world and so what we do there is we work on reforms around the world to take down barriers of entry for local entrepreneurs so that's one thing but as we all know that's a great initiative to take and we've been making some really good advances in uh in in many countries especially in Ghana we've been making a lot of progress with

our partners there Imani but um piecemeal but that is piecemeal legislation it takes forever it is hard as heck and by the time you meet again here you made 20 losses over there and it's a continuous problem but until we get better we got to continue at it so that's one thing we've been doing and so that's a hat I wear working with free market think tanks to try to make it easier for local entrepreneurs to to to join into the party additionally I'm going bold I'm going radical for the past few years we've been

advocating um an idea for Africa that found some of its roots in um in Latin America and again I'm related to the people who are involved in this my husband been one of the key figures in this movement a movement called the charter cities Paul Romer calls it like that he's a Nobel Laureate in economics always calls it call it the three cities I like to call it the startup cities so the best way to think about it Jordan and it goes back to what you were talking about earlier when you said when you use

the word operating software most of the poor developing most of a low income Nations so meaning back in the days the way we used to call it is poor nations are they have regulations for poverty they basically regulated for poverty meaning the laws the set of law poverty it only calls poverty and so what some of these folks have thought about looking at the Dubai example Dubai just recently entered the top 10 of uh International Financial Centers of the world and what Dubai did at some point is think about it and be like on this

bear you know sand plot of sand that's technically worth nothing right now as is this 110 acres of land sand everywhere they're like well maybe Sharia law is at the best for business um we got to think about better set of laws for business we're talking about only about business not family law not anything else but business and they decided there's got to be something better and so they looked around and that's actually when to take one of the terms you used earlier they're starting to realize hmm common law is actually a better way for

business specifically British common law so at that point and I'm oversimplifying here because otherwise we can totally geek out on it remember this is like one of my latest things that I've been involved in but latest it's been the past 10 years and I'm going to share with you a win um so Dubai is like we have to adopt British you know common law primarily British common law we're going to hire retired British common law judges to come and educate the law here train our own people and that along with many other reforms to also

become a top Center uh when it comes to um and in the free market when it comes to the finances British common or that British common law system so it's very very interesting theologically and metaphysically so it's predicated on the idea that people have every individual has all the rights that there are except for those that are specifically regulated and limited by legal necessity and then generally that that realm of necessity has emerged only as a cons sequence of disputes between people so you're free to do whatever you want unless you have a dispute with

someone else then the dispute is adjudicated according essentially to constitutional and Theological principles and then a precedent is established then the whole body of law built up that body of Precedence yes yeah and it's bottom up top down it's totally in English common law is a gift from God man it's something else absolutely and that's the key word there when you said bottom up so common law is so much better for bottom-up approaches and we all know that markets work better in a bottom-up approach and also when they have to educate the law and resolve

a dispute they're going to be much more respectful to the contract that was passed between the two parties than say civil law would be right and so anyway so from this standpoint here you have Dubai who is not wanting to put all of this together and eventually they put a set of laws together that would now be conducive to being a top International Financial Center in the world and voila in less than a generation in less than 25 years Dubai completely unrecognizable