Monday, November 11, 2013

Aid to Africa

Dambisa Moyo grew up in the African nation of Zambia having well-educated parents.  After getting degrees at Harvard and then Oxford, she worked for the World Bank as an economist and at Goldman Sachs.  Quite the resume.  




In 2009 she published NY Times best-seller Dead Aid: Why Aid Is Not Working and How There Is a Better Way for Africa.  Aid is not all the same:  humanitarian aid is good but aid to governments has been hurtful, she says.

Since the 1940's, Western nations have given aid of different types to African nations amounting to about a trillion U.S. dollars (that's a thousand billion).   So how much richer are the poor Africans after all this?   Here is Dr. Moyo's answer:

"With an average per capita income of roughly US$1 a day, sub-Saharan Africa remains the poorest region in the world.  Africa's real per capita income today is lower than in the 1970's, leaving many African countries at least as poor as they were forty years ago."

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