Wednesday, March 17, 2004

Poverty and inequality: A question of justice?

"Poverty and inequality: A question of justice?" is an editorial in the Economist of March 11th 2004. It points out the immorality of the present situation in which huge numbers of people live in poverty we can hardly imagine, while the rich nations largely stand by. It is also correct, in my opinion, in stating that the problem of poverty will not be solved except by increasing productivity in poor countries, and that doing so should be possible in ways that don't threaten affluent countries. (Indeed, the reconstruction of the European and Japanese economies after World War II seems to have contributed to the growth of the U.S. economy.)

Perhaps the Economist is a little disingenuous in not mentioning the cost to developing nations of OECD nation's agricultural subsidies and trade barriers.

Still, nice to see morality raised before the public eye in this context.

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