Archive for January, 2012

Debt relief of Africa and Impoverished Nations

After studying more about the issues of debt in many impoverished nations, the question that kept coming to mind was,

Where is all the wealth?

A healthy world would undoubtedly have sufficient resources to feed every person, to provide health care and to give each individual a decent living. But success continues to elude the global community.

The situation of poverty in many countries is deplorable. Expecting impoverished countries to get themselves out of poverty is unreasonable because the impoverished are trapped in a causal loop. Poverty removes the possiblity of adequate education, health care and proper nutrition for billions. Each of these factors reduces the probability that children of the next generation will have incomes sufficient to allow them to pay taxes. WIthout taxes, the governments are unable to pay back billions in loans that have accumulated over the years. While they strive to provide security and a minimal form of governance, they are saddled with crippling  interest payments on loans of prior generations.

How should wealth be re-distributed?

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