When someone mentions Rwanda, the first words that come to mind are violence and instability, not free markets and prosperity. This recent article in the Times shows just how far Rwanda has come and you can thank the power of capitalism for their recent success. One of my add-ons to the "teach a man to fish" saying is "teach a village to fish and they create a free market economy" and that is clearly what has happened in Rwanda.
Rwanda offers an alternative model, analysts say, a country where the economy has grown an average of nearly 8 percent over the last four years because of increased agricultural productivity, tourism and government spending on infrastructure and housing. Despite having a population of just around 12 million, the consulting firm A.T. Kearney last week named Rwanda the most attractive African market for retailers in its first ever African Retail Development Index.
As the article notes, there are still challenges ahead for Rwanda but the simple fact that it has made it to this point illustrates that with the right balance of free market principles and government involvement stability can be achieved anywhere.
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