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throwaway27448today at 1:54 PM3 repliesview on HN

You can develop a country without extracting its wealth.


Replies

Drakimtoday at 2:05 PM

Can you? When our economic system's only driver is "extracting wealth", can we actually develop a country without it? The extraction of wealth isn't some unfortunate byproduct, it's a central cog in the machine of what makes it operate. Money is invested for returns.

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WarmWashtoday at 4:15 PM

No, not really. Developing the country is effectively a service being performed, and a wildly expensive one at that. Never mind the high instability greatly increasing the risk of investment. And the ROI is likely decades in the future, during which time any tyrant can come to power and seize all your stuff for their state.

So if the people of Sudan wanted to buy "country rebuilding service", the only way they could finance the loan to pay for that would be by offering their resources to skilled foreign enterprises to convert to usable resources. Then run the risk numbers and you get a crazy interest rate, that will last decades.

If all goes well, Sudan gets a functioning society with a skilled workforce, the foreign players get a nice ROI and made whole for the service they performed, and everyone comes away happy.

The problem is, that places like this are so chronically unstable, and the people so in tune with living in unstable, that it is practically guaranteed to go sideways.

cucumber3732842today at 2:10 PM

So work for free?

Who would invest in facilities, develop workforces, etc, without a payoff?

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