Word: malawi
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Dates: during 2000-2009
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...years after its independence from Britain, Malawi had a per capita GDP of around $70. Today, despite nearly half a billion dollars a year in foreign aid, that figure stands at $600 - still among the lowest in the world. And Malawi isn't alone. While most of the developing world's economies have grown at around 4% per year since 1970, a significant number of countries, largely in Africa, are actually worse off now than they were a half-century ago. Even as globalization lifts much of Asia from poverty, these unlucky nations seem caught in a riptide of poverty...
...generation. At best, A Farewell to Alms is woefully naive; at worst, willfully reductionist. But Clark is right on a least one point: the industrialized world's prescription for affluence - good government, efficient markets and generous transfusions of foreign aid - has done little to spread prosperity to countries like Malawi. As he writes, "There is no simple economic medicine that will guarantee growth...
...does a mind like that operate? Where many top money managers are content parachuting into a country and meeting with government officials and ministers, Leitner prefers to trawl around places such as Kenya, Zambia and Malawi, noting that "you never know what you will find off the beaten track." He's estimated to have amassed gains just shy of 30% annually for the past decade. Quite a find...
...MALAWI...
...famine-relief concerts in the mid-'80s. Bono picked up the baton in the '90s, and now every African nation seems to have its own celebrity benefactor. George Clooney has made the situation in Darfur one of his key talking points. Madonna is building an orphan center in Malawi. Brad Pitt helped produce and Nicole Kidman narrates God Grew Tired of Us, a documentary currently in cinemas about the Lost Boys of Sudan. It follows the lives of youngsters who, separated from their parents, banded together and walked more than a thousand miles to escape the civil war. As some...