Dead Aid

Thereisnodoubt:wewanttohelp.Thewell-documentedhorrorsofextremepovertyaroundtheworldhavecreatedamoralimperativethatpeoplehaverespondedtointheirmillions.Yetthepovertypersists.Atatimeofunprecedentedglobalprosperity,childrenarestarvingtodeath.Arewenotbeinggenerousenough?Oristheproblemsomehowinsoluble,aninevitableoutcomeofhistoricalcircumstance?Inthisprovocativeandcompellingbook,DambisaMoyoarguesthatthemostimportantchallengewefacetodayistodestroythemyththatAidactuallyworks.Inthemodernglobalizedeconomy,simplyhandingoutmoremoney,howeverwellintentioned,willnothelpthepoorestnationsachievesustainablelong-termgrowth.DeadAidanalysesthehistoryofeconomicdevelopmentoverthelastfiftyyearsandshowshowAidcrowdsoutfinancialandsocialcapitalanddirectlycausescorruption;thecountriesthathave‘caughtup’didsodespiteratherthanbecauseofAid.Thereis,however,analternative.Extremepovertyisnotinevitable.DambisaMoyoalsoshowshow,withimprovedaccesstocapitalandmarketsandwiththerightpolicies,eventhepoorestnationscouldbeallowedtoprosper.Ifwereallydowanttohelp,wehavetodomorethanjustappeaseourconsciences,hopingforthebest,expectingtheworst.Weneedfirsttounderstandtheproblem.