A brief review in TIME of the new book Dead Aid by Dambisa Moyo includes the following:
That $1 trillion-plus the U.S. has poured into Africa? Mostly useless. All that Bono-supported “glamour aid”? Somewhat insulting. The truth, Moyo argues, is that massive foreign aid encourages corruption and stifles the investment and free enterprise that can provide long-term stability. Her alternative solutions include widespread microfinancing and unfettered agricultural trade with the West.
That doesn?t sound much different from the prescriptions William Easterly offered during his recent John W. Pope Lecture at N.C. State.
