Poverty in Egypt, or anywhere else, is not very difficult to explain. There are three basic causes: People are poor because they cannot produce anything highly valued by others. They can produce things highly valued by others but are hampered or prevented from doing so. Or, they volunteer to be poor.
Walter E. WilliamsTake Washington, D.C., which spends over $10,000 per student for education whose student achievement would be dead last if Mississippi chose to secede from the Union. Suppose Washington gave each parent even a $5,000 voucher - that wouldn't mean less money available per student. To the contrary, holding total education expenditures constant, it'd mean more money per student remaining in public schools.
Walter E. WilliamsIn general, presidents and congressmen have very limited power to do good for the economy and awesome power to do bad. The best good thing that politicians can do for the economy is to stop doing bad. In part, this can be achieved through reducing taxes and economic regulation, and staying out of our lives.
Walter E. WilliamsHere's Williams' roadmap out of poverty: Complete high school; get a job, any kind of a job; get married before having children; and be a law-abiding citizen. Among both black and white Americans so described, the poverty rate is in the single digits.
Walter E. WilliamsThe true test of one's commitment to liberty and private property rights doesn't come when we permit people to be free to do those voluntary things with which we agree. The true test comes when we permit people to be free to do those voluntary things with which we disagree.
Walter E. Williams