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The conference "Raising Living Standards in Africa: A Role for the G8" began this afternoon in Edinburgh.  The former president of Mozambique, Joaquim Chissano, opened the event.  Mozambique is considered among the 'success stories' of the effectiveness of aid in recent days.  Absolute poverty is being reduced, a peaceful transfer of political power was accomplished, and the growth rate is high.  Peter McPherson, former head of USAID under Reagan, and a principal advisor on the economic reconstruction of Iraq (among his many roles), set the agenda -- charity isn't enough; development must be enterprise-driven, and in the case of Africa, it is African leaders themselves who are leading the way, and their leadership is absolutely critical. 

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Any long-term development plan of a multinational corporation is going to eventually turn to the market at the bottom of the pyramid. How long it will take for this approach to business to become popular is still to be determined, but with increasing globalization and emphasis on developing countries, investment in areas that have been ignored in the past will grow.

Companies investing in developing regions will be forced to engage in responsible behaviors, firstly because of social pressures (if mainstream news sources don't cover ethical violations, the internet is a perpetually-expanding source of news), and secondly, because they will have to in order to survive. The company of the future will not only have to engage in behaviors that are marketable to the public, but also encourage innovation and efficiency.

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Having been in the UK for the past couple of days, and not reading the American press, I don't know how it is reporting on the events leading up to the G8 meeting scheduled to start July 6 a few miles from here, but I can tell you that it's big news here.  A peaceful march of more than 250,000 followed a few days later by a rather (surprisingly to the authorities and the public) violent protest by several hundred avowed anarchists in the streets of Edinburgh -- right outside the hotel where a meeting on African development we're involved in is to convene tomorrow. 

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In the spirit of the G8 protests, an activist that my friend saw in Boston last week carried a sign that said 'Abolish Poverty.' No explanation on how to do it. Just a call to action.

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