Economist Jeffrey Sachs dazzled the development world with his plan to end global poverty with aid. Sachs's aid program has not worked. But economic liberty has.
“After several decades that saw the largest poverty reduction in history -- with the number of "extremely poor individuals" falling most spectacularly in China, from 683 million in 1990 to 156 million in 2010 …, and not because of foreign aid and well-intentioned foreigners but because of booming economic growth -- some analysts now argue that the best medicine for poverty is reforms to scale back the role of the state in the economy and to open sheltered markets to global investors.”
- Paul Starobin, “Does It Take a Village?” – FOREIGN POLICY
[Hat tip Stephen Hicks]