This African Country was Third Poorest Before Free Markets

Brad Fox | February 17, 2015
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Botswana Africa gained Independence from Great Britian in 1966 when the per-capita GDP was a mere $70. Now this number has risen to $16,377. 

The countries leaders began the path towaards free markets and rule of law at its independence. They have not been without the usual corruption and hardships but the results of what free markets did are astounding. Low taxes, private property protection, rule of law, and open invenstments gave Botawana the fastest growing economy in the world for three straight decades. 

Foreign direct investment and tourism are gaining monthly, setting a baseline of opportunity for the coming years. They recently came out with is a new lifestyle magazine called Dreams Batswana. Another major plus for Botswana is their media that keeps their politicains relatively honest, especially when compared to other African countries.

There success story will hopefully become a model for surrounding African nations. 

Daily Signal reported Ed Frank visited the country and made the following video. 

The video features interviews with Temba Nolutshungu, a director of South Africa’s Free Market Foundation, and Leta Mosienyane, one of Botswana’s most acclaimed architects and urban planners. He’s helped design some of Southern Africa’s most prominent developments and he’s seen first-hand what policies help—and hinder—economic development.

This CATO essay compares the neighboring authoritatize Zimbabew to Botswana. 

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