Somalia is a barren wasteland, they have very little exports, they product almost nothing. Not very easy to farm in a shitty desert with low soil nutrition.
Ok, how about Nigeria then? It's estimated they have over 38 billion barrels of oil, which is more than enough to get the free market capitalists involved. Yet, the country is a pile of shit. ExxonMobil won't even transport employees via land anymore. If you want to leave the compound, you're going by helicopter.
Oh right, it's just multi-national corps raping & pillaging a poverty sticken country, but less government is still the way forward.
But wait, that's what happened in the US too! Multi-national corps raped & pillaged the country, plus used the power of government to help them. Deregulation, tax breaks, free trade agreements, incentives to setup shop overseas, etc.
I don't understand why you guys who constantly preach about the free market are pissed off at the current state of affairs, because you got exactly what you asked for. Iceland is a prime example. Govt deregulated, multi-national corps came in like vultures, and ran the entire country into the ground. Exact same happened in the US, except the US has a much thicker thread to hang onto.
In comparison, you have countries like Canada, Sweden, Norway, Finland, Netherlands, and so on, who are surviving quite well throughout this economic calamity. Why? Strict government regulations. That's the same reason why many SE Asia countries are booming right now, and quickly advancing on the world economic stage.
So to sit there and blindly say government hinders economic progress, and the free market should be the be-all-and-end-all approach is simply ludicrous, and nothing more than media brainwashing.