What is the process by which countries develop economically? It used to be assumed that government-to-government transfers were indispensable. That view has fallen somewhat out of favor, but there are still plenty of errors in the way some economists think about this question. Shawn Ritenour, professor of economics at Grove City College and author of a forthcoming book on development economics, joins us for the right answer.
Thomas E. Woods, Jr., is the 2019 winner of the Hayek Lifetime Achievement Award from the Austrian Economics Center in Vienna. He is a senior fellow of the Mises Institute and host of The Tom Woods Show, which releases a new episode every weekday. Visit https://tomwoods.com