Live 8 was a music festival held in nine major cities to bring global attention to poverty in Africa. It asked viewers to demand that the G8 nations forgive African debt, double aid, and deliver trade justice. Here are 8 observations.
1) Bono and Bob Geldof are passionate and committed. 2) MTV bungled the TV coverage in unprecedented fashion. 3) The video stream was Windows Media only — ironic for an event focused on global poverty. 4) Forgiving African debt is about fairness — the money went to corrupt dictators, not citizens. 5) Fair trade is good, but may not benefit Africa in the near term due to state-controlled agricultural markets. 6) Half a trillion dollars over 45 years hasn't improved the situation — Africa's GDP has declined. 7) The US is actually quite generous by total dollar amounts. 8) Smarter aid is the key — linking aid to meaningful economic and political reform.
--MR
