instead of bailouts Western governments could put this money (trln of dollars) into IMF and WB and start lending to the poorest countries to subsidize establishment of safety nets and social and health securities in these countries
How is that sustainable for poor countries in the long run? Surely Africa doesn't need more money to prop up poor government.
If poor countries get safety nets this will increase demand for goods and subsequently they can emerge as viable economies. Of course the main problem is implementation and reducing poor governance, but if you don't start to tackle this problem who will?
And then do you have any alternative? I remember you defended the whites' rule in Zimbabwe and South Africa. The whites did not do anything to lift Africa out of destitution.
I remember you defended the whites' rule in Zimbabwe and South Africa.
You're welcome to show me when I did exactly that.
But your unwillingness to illustrate your own point makes it less credible. Most economists teach a theoretical framework that has been shown to be fundamentally useless. -- James K. Galbraith
If you don't have time for ad hominems, then please don't start them. Extraordinary claims do require extraordinary evidence.
Still, that's not really the issue. The issue is if the disastrous results could and should have been expected, or if the regime change was done in good faith. Honest mistakes are after all unavoidable. Peak oil is not an energy crisis. It is a liquid fuel crisis.
