Thursday, August 6, 2009

Dead Aid

Check out this book called "Dead Aid: Why Aid is not Working and How There is a Better Way for Africa" by Dambisa Moyo.

Written by a young female African economist, the book argues that although well-intentioned, Western aid projects end up doing more damage than good. She critcizes big Western aid projects (e.g. "We have the solution to save you") like those promoted by Jeffrey Sachs and Bono. She says aid creates dependency, nurtures corruption and kills local entreprenership. For example, handing out free mosquito nets puts the local mosquito net vendor out of business.

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