Why is Ethiopia Poor?

Byalmariam

First, Why is Africa Poor? George Ayittey, the renowned Ghanaian economist and president of the Free Africa Foundation swears that “Africa is poor because she is not free”. Like Ayittey, Robert Guest, business editor for The Economist, in his book The Shackled Continent (2004), declares that “Africans are poor because they are poorly governed.” He argues that…

Ethiopia: The Fakeonomics of Meles Zenawi

Byalmariam

There is the economics of Adam Smith, the intellectual father of capitalism. There is Levitt & Dubner’s freakonomics of weird stuff. Then there is the fakeonomics (economics by gimmickry) of  Meles Zenawi, the dictator in Ethiopia and author of the five-year “Growth and Transformation Plan” (GTP). Zenawi forecasts a “not unimaginable” 14.9 percent economic growth for…