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Thomas Sowell on Economic Facts and Fallacies

EconTalk

CHAPTER

The Death of Dependency Theory in the 20th Century

The U.S. has invested less in Sub-Saharan Africa than it does Canada or Western Europe, says Peter Bergen. The West is not impoverishing the people of these countries because they have better alternatives to work for low wages, he says. He argues that child labor laws and minimum wage laws are a big part of why we see kids selling dope on the street instead of finding legitimate jobs.

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