The Intangible Wealth of Nations
A few months ago, the White House released its “New Strategy Toward Sub-Saharan Africa,” which contains four key bullets summarizing its approach. The first, and most important, goal is one that has been a pillar of American foreign policy for decades: “Strengthening democratic institutions.” The State Department has tried to use a variety of carrots and sticks to make this a reality, including providing incentives for implementing democratic reforms in the form of of financial and in-kind aid. In the…