Good and Evil, and Commerce and Capitalism as a Way to Cure Poverty

“In fact, Bono, C. S. Lewis has a great quote which I love: ‘When a man is getting better, he understands more and more clearly the evil that’s left in him. When a man is getting worse, he understands his own badness less and less.”
Jim Daly, interviewing Bono

That was in the context of interviewing Bono, who recently said “Aid is just a stopgap. Commerce [and] entrepreneurial capitalism take more people out of poverty than aid. We need Africa to become an economic powerhouse.”

A crazy new idea for Africa and most third world nations is to observe the rule of law, recognize constitutional rights, engage in democracy, bring women and minorities equal rights, and engage in free market capitalism. Historically, that’s a hell of a winning formula. It worked for most first world countries.

India and China have improved their lot just by practicing that last part, free market capitalism. Both of them – but especially China – have a long way to go on the other parts that have to do with human rights, but the little bit they’ve done so far has improved the lifes of several billion people. Foreign aid and economic redistribution could never have done what capitalism has done for those people.

PreviouslyBreaking News: Bono and Matt Yglesias Mugged by Economic Reality