The Wall Street Journal has exciting news for economic development in Africa: Well-capitalized American investors have created a company, Bridge International Academies, that provides low-cost schooling for poor African children. So far, that’s nice, but not especially exciting. After all, wealthy people have provided charity schooling for the poor for centuries. What’s exciting is that Bridge is for profit. It treats the poor as customers, not charity cases.
“How is that possible?” one might ask. “The poor can’t afford private schooling.” But they can; they have for generations; they do right now.