As the first George W. Bush administration moved toward its conclusion, many people asked me to sum up the president’s foreign-policy record of the last four years. Almost invariably, their questions focused on September 11 and the war on terrorism, developments in Iraq and Afghanistan, the state of trans-Atlantic relations, or the difficulties of the intelligence craft. Almost invariably, my answers have keyed on distinguishing between issues such as these that tend to dominate the headlines, and issues of equal or greater long-term strategic significance that rarely generate as much interest.

Among these latter issues, none is more important than economic development in the world’s poorest societies. As the president wrote in the National Security Strategy in September 2002, “A world where some live in comfort and plenty, while half of the human race lives on less than $2 a day, is neither just nor stable.” No issue has consumed more of the administration’s concern and energy. And now that George W. Bush has a mandate for a second term, he intends to pursue his goals for economic development with the same determination that made possible the liberation of Iraq and Afghanistan. The president has said that he intends to spend the political capital he earned in winning the trust of the American people, and the world can be assured that much of that capital will be spent helping the poorest of its citizens.

In doing so, the president is building upon the legacy of President John F. Kennedy, who established the U.S. Agency for International Development (USAID) in 1961. Helping poor societies to prosper has long been part of our international goals. Achieving broad and sustained success, however, has proven more difficult than most diplomats and...