In economics, a beggar-thy-neighbour policy is an economic policy through which one country attempts to remedy its economic problems by means that tend to worsen the economic problems of other countries.
Adam Smith made reference to the term in claiming that mercantilist economic doctrine taught nations ‘that their interest lies in beggaring all their neighbours’.
This is in fact one of the reasons why the EU and those advocating that “man made” CO2 is a problem.
The idea is simple – and BAD:
- Pay [no more than you have to] as “aid” to help in the exploitation of green technology and environmental protection (aka bribes) to the corrupt despots ruling African countries to alleviate the effects of climate change.
- This stops African countries from industrialising to the degree thy might. This will have the following benefits (for the EU):
1. reduced demand for coal, oil and gas
2. help the EU cope with the challenge that China and India present.
In this policy the EU has an ally: Communist [we use this term advisedly] China. China is busy buying up Africa’s natural resources for China’s benefit, thus depriving Africa of these. These so called communists have proved far more adept at this than any of the European colonial powers!
Of course, one is not surprised at such a policy from a Tory government. But this policy was pursued by Liberal Democrat and Labour politicians!
William Ewart Gladstone and James Keir Hardie will both be spinning in their graves!