Ghana's Gold Boom: Curse or Blessing? | DW News
Oct 23, 2025
#africa #ghana #gold
What do high global gold prices mean for small-scale miners in Ghana? We look at the government's attempts to regulating the sector and the growing environmental and health toll that gold mining is taking.
19:04
What a surprise.
The Conventional Wisdom is, poor people, poor communities, poor nations, have their troubles...because they are poor. What they need is to be rich, and the problems are done.
Well...state-run lotteries have been around for over 55 years, now; and the dozens of poor people who won millions, and destroyed themselves or died, should have told us that.
The WORST thing to do to someone who is poor, is GIVE THEM UNEARNED MONEY. That is, huge amounts of money for which no behavioral change was demanded or required.
This shows it. European history shows it - Spain discovers gold in Mexico; quickly carts so much of it home, and in a generation, the Spanish empire is destroyed.
I'm "poor." Low income. (Relatively) low savings. But I live well...I eat well, live in a nice environment, have no debt; have money for recreation in moderation.
Because of my habits - mostly learned the hard way. THIS is the key - it's personal discipline and habits of restraint, cleanliness, thrift, empathy, adherence to social standards that benefit all. Much of which is lacking in the Third World.
Poor people are not poor because they have no money. They are poor because their habits and ways of living, do not bring them prosperity; and if prosperity is given them, with their habits, the wealth, and many lives, will both be lost.
Ghana has a gold rush, and it's destroying what there is of their cultural fabric.