Episode 61: Magatte Wade on Rethinking Poverty, Prosperity, and What Africa needs to Flourish

In this episode of the Moral Imagination Podcast I speak with Magatte Wade about her book, The Heart of Cheetah, her personal journey, entrepreneurial ventures, and her vision for a free and prosperous Africa. Magatte was key voice and important influence in the film I directed, Poverty, Inc. She is a force for promoting freedom, the dignity of the person, and entrepreneurial solutions to poverty in Africa and throughout the world. I’ve know Magatte for many years and am delighted to have her on the podcast. We discuss the misconceptions surrounding African poverty and the need for economic freedom and institutions of justice – private property, rule of law, and ability to participate in the formal economy - for fostering opportunity and human flourishing for the poor. At the end of our conversation we also talk about poverty in America, the American dream from the perspective of an immigrant, emphasizing the need for a balance between material prosperity and moral values. Magatte emphasizes that Africa will only thrive through entrepreneurship, political and economic freedom, and a commitment to rule of law and human dignity.Biography Magatte Wade is founder of SkinIsSkin, and Senior Fellow at Atlas Network, the leading organization of African free-market think tanks. She was listed as a Forbes “20 Youngest Power Women in Africa,” a Young Global Leader by the World Economic Forum, and a TED Global Africa Fellow. You can learn more about her work at MagatteWade.comChapters 00:00 Introduction to Magat Wade and Her Work12:47 The Path to Prosperity: Entrepreneurs and Free Markets39:52 The Reality of Poverty in Africa45:02 Devotion to Prosperity in Africa50:50 Cultural Identity and Entrepreneurship57:54 The Complexity of Labor Laws01:08:24 The Informal Economy and Its Consequences01:15:12 The Aha Moment: Economic Freedom and Wealth Creation01:25:09 The Correlation Between Property Rights and Prosperity01:30:09 The Anthropological Error of Socialism01:36:30 The Threshold of Flourishing01:45:48 Virtue, Character, and Economic Freedom01:54:12 The Teaching Power of Law02:06:11 Creating Conditions for Prosperity02:11:21 Misdiagnosis of Poverty and Its Consequences02:19:00 The Cheetah vs. Hippo Generations: A Call to Action02:29:08 Flourishing vs. Prosperity: A New ParadigmResources Get full access to The Moral Imagination - Michael Matheson Miller at www.themoralimagination.com/subscribe