Saturday, October 13, 2007

Market Failures in Everything: Malawi farming

How Malawi went from a nation of famine to a nation of feast

Removal of a system of public financing for the poorest farmers (as advocated by Western economic advisors) resulted in crop failures and starvation on a scale not seen except under communist regimes. Restoration of the programs resulted in massive surpluses providing much needed exports.

Thanks to Bob Harris at This Modern World

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