Howard Buffett—son of billionaire investor Warren—is a fascinating character. He is the hands-on owner and operator of a large-scale industrial corn farm in the Midwest and has been nominated by his father to take over chairmanship of insurance giant Berkshire Hathaway upon the aging magnate’s eventual retirement. He has also emerged as a leading philanthropist on the topic of agriculture in the Global South….
Howard Buffett delivered a blunt critique of Gates’ high-tech approach to improving food security in the Global South. He said that the Gates Foundation was essentially trying to recreate US-style industrial agriculture in Africa, an approach that he himself had tried early in his philanthropic career. “I don’t think it worked,” he said. “We need to quit thinking about trying to do it like we do it in America,” Buffett added.
Earlier in the segment, he championed low-tech, inexpensive methods for increasing farm productivity—a stark contrast to the high-tech seeds and pricey synthetic fertilizers favored by Gates. Buffett emphasizes that Gates’ efforts in African ag aren’t “all wrong” and adds that Gates is the “smartest guy in the world, next to my dad.”
~ Warren Buffett’s Son Schools Bill Gates on African Ag By Tom Philpott
Nina Munk, journalist and author of The Idealist: Jeffrey Sachs and the Quest to End Poverty, talks with EconTalk host Russ Roberts about her book. Munk spent six years following Jeffrey Sachs and the evolution of the Millennium Villages Project–an attempt to jumpstart a set of African villages in hopes of discovering a new template for development. Munk details the great optimism at the beginning of the project and the discouraging results after six years of high levels of aid. Sach’s story is one of the great lessons in unintended consequences and the complexity of the development process.
~ Nina Munk on Poverty, Development, and the Idealist