Sunday, 30 August 2015

British economics graduates have left a trail of misery around the world » The Spectator

The dishonour of distributing economic failure around the world is spread around British universities but the London School of Economics can rightly claim more than its share, of course. Jomo Kenyatta, first prime minister of Kenya after independence, went there. True, under his leadership, the Kenyan economy was not the worst-performing in Africa — but overblown, corrupt state industries and attempted import substitution took their toll, so that GDP growth per capita was low and, in some years, negative.

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