Episode 61: Magatte Wade on Rethinking Poverty, Prosperity, and What Africa needs to Flourish

In this episode of the Moral Imagination Podcast I speak with Magatte Wade about her book, The Heart of Cheetah, her personal journey, entrepreneurial ventures, and her vision for a free and prosperous Africa.

Magatte was key voice and important influence in the film I directed, Poverty, Inc. She is a force for promoting freedom, the dignity of the person, and entrepreneurial solutions to poverty in Africa and throughout the world. I’ve know Magatte for many years and am delighted to have her on the podcast.

We discuss the misconceptions surrounding African poverty and the need for economic freedom and institutions of justice – private property, rule of law, and ability to participate in the formal economy - for fostering opportunity and human flourishing for the poor.

At the end of our conversation we also talk about poverty in America, the American dream from the perspective of an immigrant, emphasizing the need for a balance between material prosperity and moral values. Magatte emphasizes that Africa will only thrive through entrepreneurship, political and economic freedom, and a commitment to rule of law and human dignity.

Biography

Magatte Wade is founder of SkinIsSkin, and Senior Fellow at Atlas Network, the leading organization of African free-market think tanks. She was listed as a Forbes “20 Youngest Power Women in Africa,” a Young Global Leader by the World Economic Forum, and a TED Global Africa Fellow. You can learn more about her work at MagatteWade.com

Chapters

00:00 Introduction to Magat Wade and Her Work

12:47 The Path to Prosperity: Entrepreneurs and Free Markets

39:52 The Reality of Poverty in Africa

45:02 Devotion to Prosperity in Africa

50:50 Cultural Identity and Entrepreneurship

57:54 The Complexity of Labor Laws

01:08:24 The Informal Economy and Its Consequences

01:15:12 The Aha Moment: Economic Freedom and Wealth Creation

01:25:09 The Correlation Between Property Rights and Prosperity

01:30:09 The Anthropological Error of Socialism

01:36:30 The Threshold of Flourishing

01:45:48 Virtue, Character, and Economic Freedom

01:54:12 The Teaching Power of Law

02:06:11 Creating Conditions for Prosperity

02:11:21 Misdiagnosis of Poverty and Its Consequences

02:19:00 The Cheetah vs. Hippo Generations: A Call to Action

02:29:08 Flourishing vs. Prosperity: A New Paradigm

Resources