OK, I have to admit, I am one of those who read “The Road to Serfdom” and totally loved it. Hayek was spot on about the folly of planned economies. The markets are not perfect. But having imperfect markets beats planned economies on any day. We just have to provide a reasonable amount of regulation and provide social safety nets that take care of those who end up taking one for the team because of the dynamics of the free market.
And that is why I thought this post by Easterly was kind of neat.
I also found this post kind of interesting and to be an important part of the debate on the viability of certain African states. I am not into the whole idea of blaming colonial “arbitrary” borders for holding Africa back. The fact of the matter is that Africa has been held back by Africans like Samuel Doe, Mobutu, Emperor Bokassa, Sani Abacha, Idi Amin, Omar al-Bashir and other crazies of their ilk. That said, I also think that certain states should either be split up (Nigeria, DRC, Sudan) or absorbed into other states (most of the Sahelian states. )