Development

One thing that the public knows, which many development experts apparently do not, is that poor countries are poor because they are badly governed and have institutions which prevent growth and permit a small elite to capture the nation's wealth. According to Why Nations Fail, by Daron Acemoğlu and Jim Robinson, the public is (as usual) basically right.

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In January, David Cameron nailed his colours to the mast with a speech in Davos that set out the three Ts agenda for the UK’s chairing of the June G8 meeting: taxes, trade and transparency. There have also been some raised eyebrows among the cognoscenti about a fourth T: turf.  Some worry that a Cameron-led G8 effort might step on the toes of the G20 and its existing working groups, perhaps stimulating production of “not invented here” antibodies that would make it hard for the initiative to gain global traction.

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