Daron Acemoglu on Why Nations Fail
EconTalk
00:00
Foreign Aid
Foreign aid cannot be the solution. Is not the source of ills. It's not the reason why places are less developed. If you throw money into an unchange istitutional structure, nothing is going to change. There are no silver bullet solutions for changing institutions. We have done much more than just send for an aid. It has done it within a given institutional structure. And unless that institutional structure changes, or unless you have a strategy for changing that institutional structure, which just doesn't work in general,. Unless there are some exceptional stances, its not going to work.
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