That article is misleading. Tanzania is a case of major success for microloans. Microloans had failed to thrive in some places but Tanzania took off.
I don’t know if the UN was pushing socialism or not, but I know the World Bank and World Economic Forum were encouraging microloans, economic independence and freedoms and they have UN ties although i don’t think they’re beholden to the UN. (I don’t know their relationship).
I have no idea. I just know I’ve been reading about successes and failures of microloans for the past couple of decades, and Tanzania was one of their successes.
Just look at Tanzania’s exports in 2006. Far reaching. That article saying that the UN wasn’t helpful is a load of bunk because it’s precisely the UN (or at least World Bank) programs that helped Tanzania with their trading partners, running do-gooder ad campaigns in trading countries and stuff.
I don’t know what socialism that article is talking about tbh. Maybe I missed it but I did some investing in various African economics around 1999-2014 — I did it “long term” but “placed my bets” all by 2002 and it just sat in my accts and either grew or failed.
As Tanzania was one of my investments, I got to watch it grow myself. (I used Sharebuilder and Vanguard).
I mean it’s not wrong that it was good ol’ Tanzanian industriousness or whatever but had there been no World Bank involvement to seed and encourage them forever, I doubt they’d have gotten the necessary traction to become a strong trading partner.
They do a lot of focus programs to keep working at lifting various segments of the population out of poverty. A long running program help women gain independent means is one of them for example.
If that’s not encouraging capitalism, I don’t know what is.
Anyway, I hijacked enough here. UN = socialism, socialism sucks. Capitalism is good, UN is liars and thieves against hard workers etc. Carry on. I did my rant.