There's a huge problem with how The West approaches supporting developing economies. Charity. In Tanzania, I met dozens of well-meaning volunteers. They built schools and homes while spending money into the local economy. But how are the locals supposed to compete with free? How long would *you* last competing with competing with free? Volunteer construction drops the floor for labor to zero. Donating shoes puts local businesses at an insurmountable disadvantage. Dollar for dollar, money is more efficiently placed in the hands of a (succeeding) business. It puts money into the hands of locals like a water-wheel generator. Spinning, generating energy, then returning water to the river. Charitable giving creates dependency; businesses create self-dependency and resiliency.
Very interesting take, one I've not thought about deeply before. Thanks for sharing, Nick.
Dude, watch Poverty Inc. asap. You are 100% on target.
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7moHow do we (the Western World) identify and find succeeding businesses in lesser developed countries, Nick?