While watching the finale of The Bachelorette (laugh if you will), I was reminded of the beautiful prosperity of the Dominican Republic, and wondered, as I have before, why then is Haiti so poor, when they split the same tiny island? Each was devastated by an earthquake in 2010, but despite billions in U.S. aid, Haiti has stubbornly refused to prosper like its island companion. Why? The article below answers it, but it can be summed up in one phrase: Absence of the rule of law. A full 90% of the Haiti economy occurs off the books, because government corruption is so complete that any penny earned gets stolen. Businesses cant operate in an atmosphere of uncertainty, not knowing what the laws will be tomorrow or how much a fiat decision by a government regulator will cost them. Theres a lesson here about high-level elected officials and their willingness to faithfully execute the laws. Do you wonder why we continue in what is now called the Great Recession? Its echoes of Haiti. manhattancontrarian/blog/2014/7/28/why-is-haiti-so-poor
Posted on: Thu, 07 Aug 2014 01:58:51 +0000
Trending Topics
Recently Viewed Topics
© 2015