[Moral Hazard]

The most pathetic thing about this is the world now knows very well what is needed to achieve economic prosperity: The rule of law, property rights, a free market, and universal basic education. This approach has been used effectively in much of Southern and Eastern Asia, and is doing great things in Eastern Europe right now.

If the countries of Africa tried it, they would find it quite effective there as well. It is, however, generally incompatible with Stalinist dictatorships or kleptocracies, so I don't expect it will become very popular there any time soon

[clearlight]

Right on. Geldof and his liberal co-horts are going to try to push the lie that Africa is a disaster because of Western selfishness and neglect. They don't have the sense to admit that the bulk of Africa's problems are due to the behavior of Africans. At least they're not charging admission for the concerts. The net worth of the performers is probably in excess of the GNP of a number of African nations.