| Publication |
2011.
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| Summary/Abstract |
That good governance is necessary for economic development was until recently the conventional wisdom. In 2002, for example, a USAID study asserted that 'without good governance, it is impossible to foster development'. The Economist's Africa editor, Robert Guest, wrote in 2004 that 'Africa's wars spring mostly from bad government … Bad governance is also the main reason why Africa is so poor.' Even Milton Friedman, a champion of market liberalisation, later endorsed the good-governance paradigm: 'I was wrong. It turns out that the rule of law is probably more basic [to development] than privatization.'
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