Templeton debate series - Essay Example

Iqbal Quadir proposed that for Africa to progress, money should instead be directed to entrepreneurs. Entrepreneurs create value for the economy that produces job and income and therefore it would be beneficial if business receives the money instead of government (Iqbal 6-8). Whereas if money will be put into the government, it will only bloat the bureaucracy and discourages entrepreneurs that in effect will stunt growth as what experience had shown. Money directed to entrepreneurs would mean capital to operate and expand business.

An expanding business would mean hiring more workers and that would have the effect of putting money in the pockets of Afrikaans that would better their standard living. A better standard of living will end the cycle of poverty and empower the people of Africa. Iqbal larger global argument is about the promotion of an idea that for Africa to progress, foreign direct investment is necessary to propel the economy of Africa. Pouring money in business has the net effect of empowering its citizens and not government bureaucracy (Iqbal 6-8).

He is calling for foreign capital to invest in Africa because the country is ripe for investment with huge available cheap labor and abundant resources just waiting to be used for business. I totally agree with Iqbal Quadir’s global argument of letting business flourish in Africa so that people will have jobs that will better their lives and finally end the cycle of poverty there. I agree with his argument of putting money in business because it would also contribute to ending government initiated violence since less money would mean that despotic governments there will not have enough money to buy weapons.

Work CitedQuadir Iqbal. “Will money solve Africa’s development problems”. John Templeton Foundation