How To Rebuild Libya’s Economy

by Zack Beauchamp

Josh Foust reports on an alternative to the standard methods of building up a shattered economy:

One doctrine that shows promise for unlocking the natural business savvy of the Libyan people while avoiding an expensive, difficult, and possibly counterproductive international reconstruction process is Expeditionary Economics. Expeditionary Economics, as its known, is a framework for creating the framework of a functioning private-sector economy–the foundation of any successful, stable society. Instead of focusing on the large-scale investment of transnational corporations into feeble state-run corporations, as is typical in "private sector development" efforts, Expeditionary Economics instead calls for a focus on personal entrepreneurship, small business development, and the laws and institutions that enable them.