It is common for commentator to point to corruption, incompetence, malicious Western meddling, and other factors as the source of Africa’s continued economic woes. One seldom hears so-called experts point to taxes as a major impediment to economic development. Even “development economists” do not repudiate Africa’s paradoxically onerous tax regimes.
Thomas Piketty
A Brief History of Equality
Harvard University Press, 2022
From the United Kingdom to Spain to the Balkans, it has become common practice in Europe to refer to secessionist groups of various types as “nationalists.” Sometimes the term is employed as a pejorative term, and often not. Scottish nationalists, for example, often refer to themselves as nationalists. On the other hand, sometimes the term “nationalist” is employed to disparage separatist groups. It was easy to get this impression during the height of the most recent conflict over Catalan separatism in Spain.
The energy and climate goals that Western governments, the United Nations, and other organizations are pushing on Africa constitute a crippling blow to its economies. As the least developed region, Africa should unequivocally prioritize economic development. One would think that amid energy poverty in Africa, Western governments and “development” institutions would prioritize energy security for African countries over energy transition.
With the Consumer Price Index (CPI) hitting a forty-year high of 9.1 percent, the Bank of England has responded by raising interest rates to 1.25 percent, up by 0.25 from the previous period.
Inflation continues to rise fast, in June 2022 having reached 8.6 percent in the United States and in the euro area. At the same time, regulation continues to thrive. Products, production processes, supply chains and trade are increasingly regulated. What is not obvious: in the background, central banks have been hedging the rampant regulation.
Nothing is certain except death and taxes, but antigunners exploiting tragedy to pass more gun control laws is close behind.
