The Finch Formerly Known As Gold

12 June 2005

Forget the debt?

It appeals to my forgiving nature (yeah, right), this cancellation of Third World debt business, but it still leaves me somewhat queasy, and Lemuel knows why:

Though Alex Singleton may be right that most of these debts were made by corrupt irresponsible dictators, and though they are now gone, their stifling shadow looms over these poor countries via the enormous debts they created.

But on the other hand how are you expecting someone to learn to behave in a frugal manner if you eliminate their past bad results. This will only encourage continuing bad governance.

And then there's the case of countries who currently have corrupt irresponsible dictators; forgiving their debt will simply increase the cash flow for the favored few with no benefit to the general public. This should be perfectly obvious to anyone who isn't a rock star.

Personally, I think it's time we foreclosed on some of these hellholes. First person who shouts "Colonialism!" gets to send his next two paychecks to Robert Mugabe as a gesture of support for thuggery masquerading as government.

Posted at 6:45 PM to Political Science Fiction