From: steve365@btinternet.com
Date: Fri Jun 20 2003 - 01:59:51 MDT
> from: Damien Broderick <damienb@unimelb.edu.au>
> date: Fri, 20 Jun 2003 08:06:58
> to: extropians@extropy.org
> subject: Re: developing countries
>
> At 11:14 PM 6/19/03 -0700, mez wrote:
>
> >Why not bribe the politicians of developing countries to establish the
> >rule of law and clamp down on corruption?
> >Call them "Economic Leadership Grants".
>
> Here's a foolish question to which the economically-sophisticated might
> care to respond:
>
> What happens to the vast hoards of loot misappropriated by those despots,
> corrupt bureaucrats and (at last, a chance to use this word!) their ilk?
>
Most of it ends up stashed away in bank accounts in the Caymans, Panama, Lichtenstein etc. It's used to buy very expensive consumer goods and properties in ultra-desirable residential locations. The main point however is to use it to support an extended family and lots of hangers on or 'clients' in a very lavish, international lifestyle. So good news for the makers of luxury goods, estate agents selling the very top end property and certain car manufacturers (the ruling class in most of Africa are known as the "Wa-Benzi"). BTW, I hate to say this but that is not the right use of 'ilk'. That's a Scots word meaning "the same" not type, sort or kidney. So Sir Iain Moncrieffe of Moncrieffe could be correctly known as Sir Iain Moncrieffe of that Ilk. SD
>
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