Not sure in what way high poverty levels invalidate the idea of the economy growing beyond expectations. Rwanda's economy is growing quite fast while we here in Canada are experiencing at best zero growth. That isn't really related to how our poverty levels compare.
Isn't that the whole trickle down unsubstantiated bullshit used to sell all sorts of non working measures to the masses?
So, the whole problem is pretty obvious: you cannot save enough to invest. Banks are not interested in savings, they're interested in extraction of cheap labor and resources - which requires owning.
Investment as well is only provided under bad rates, under such speculation.
And when it's not the locals owning anything, they remain poor and cannot save.
Economic growth is a wrong measure of wealth: one needs to look at who grows.
kspacewalk2|1 year ago
1oooqooq|1 year ago
well i guess you must be a Canadian desperate to move to Rwanda then...
AstralStorm|1 year ago
So, the whole problem is pretty obvious: you cannot save enough to invest. Banks are not interested in savings, they're interested in extraction of cheap labor and resources - which requires owning. Investment as well is only provided under bad rates, under such speculation.
And when it's not the locals owning anything, they remain poor and cannot save.
Economic growth is a wrong measure of wealth: one needs to look at who grows.