Friday, November 8, 2013

Foreign Aid is Bad

In his new book, “The Great Escape: Health, Wealth, and the Origins of Inequality”, Angus Deaton, an expert’s expert on global poverty and foreign aid, puts his considerable reputation on the line and declares that foreign aid does more harm than good.

He argues that it corrupts governments and rarely reaches the poor. It is high time for the paternalistic West to step away and allow the developing world to solve its own problems.