Wednesday, March 14, 2012

A Road to Riches

Sam Bowman of the Adam Smith Institute (13 March) HERE

“Every little helps”

“David Henderson quotes Robert Guest's new book Borderless Economics:

“When people try to think of ways to ease global poverty, they seldom mention migration. They tend to instead think of things like microcredit. There is nothing wrong with microcredit (the lending of small sums of money to poor entrepreneurs). It has lifted many people out of poverty, which is why Mohammed Yunus, whose Grameen Bank pioneered this approach in Bangladesh, won the Nobel Peace Prize in 2006. Yet, as Mr. Pritchett points out, the average gain from a lifetime of microcredit in Bangladesh is about the same as the gain from eight weeks working in the United States. After doing a quick calculation of the total benefit that Grameen Bank confers on its clients, he asks, mischievously: “If I get 3,000 Bangladeshi workers into the US, do I get the Nobel Peace Prize?”

Indeed. I give to regularly and I'm very happy to support the good work they do. Nevertheless, information like this makes me think about how much more effective my money might be. That, and how much richer the world would be if we were more open to foreign people working in our countries.

So: what charity can I give to that smuggles poor people into rich countries?”

It is an excellent piece by Sam Bowman of the Adam Smith Institute. It exposes, once again, the myth of racism being a rightist philosophy or that those inspired by Adam Smith are rightists. The fact is that examination of racist tenets exposes them as representative of the worst vestiges of leftist trade unionism, protecting “British” jobs and “British” customs (remember Gordon Brown on this subject?). Libertarians are not of the Right nor the Left.

Scotland welcomes immigration. and those who came here, and their children, are positive contributors to Scottish life and culture. In the field of cuisine alone, a most visible phenomenon of past immigration, Scotland abounds in restaurants supplying the cuisine of many countries. I regularly (at least when fitter) dine at Il Costello’s (Italy), The Kwok Brasserie (China), and the Voujon (India), all within half-a-mile of my home. It augurs well for our (hopefully) independent future.


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