Absolutely agree that growth has lifted lots of people out of poverty.
The idea here was that, even under very optimistic growth projections, i.e. Africa emulating China, it would simply take to long for growth to benefit the very poor. Because the main factor for growth is capital, and free market forces already provide that (China is investing a lot in Africa), our marginal dollar might be better spent elsewhere.
Absolutely agree that growth has lifted lots of people out of poverty.
The idea here was that, even under very optimistic growth projections, i.e. Africa emulating China, it would simply take to long for growth to benefit the very poor. Because the main factor for growth is capital, and free market forces already provide that (China is investing a lot in Africa), our marginal dollar might be better spent elsewhere.