Real Incentives for Real Reform
Inducing Meaningful Institutional Change in Developing Economics
By Joshua P. Hill
Development assistance has failed to put the worlds poor on the road to prosperity, but one proposal has great potential: a privately funded annual prize given to the leaders of poor countries that rise the most on an index of economic freedom. This approach would avoid many of the pitfalls of conventional aid programs, cost less, align the markets creative forces and local actors specific knowledge, and promote opportunities for a broad cross-section of society.