Reevaluating Foreign Aid: Complexities and Contradictions

I sat down with Ian Vásquez, Vice President for International Studies at the Cato Institute, to unpack the failures of foreign aid and the true purpose of USAID. For decades, the U.S. has funneled billions into foreign assistance programs, yet these efforts have done little to spur economic growth. Instead, they have trapped countries in a cycle of dependence by subsidizing dysfunctional and corrupt regimes. Using Argentina as a case study, we explore how Javier Milei’s radical free market approach is steering his country away from perpetual hyperinflation and debt crises toward prosperity.

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Follow Ian on X (formerly Twitter): https://x.com/VasquezIan

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Outline:

[0:00] Does foreign aid work?

[15:14] DOGE’s crusade against USAID

[21:09] Foreign aid is political meddling

[29:56] Does economic freedom lead to political freedom?

[41:27] The economic effects of colonialism

[54:08] Argentina wasn't always a disaster

[1:04:24] FDR’s admiration for fascism

[1:09:32] Javier Milei’s war on inflation

[1:20:12] Price control ruin housing markets

[1:24:52] Are there downsides of Milei’s policies?

[1:29:51] America might not be the freest country

[1:33:33] How “libertarian” is the Trump administration?

[1:44:46] Is freedom in retreat around the world?

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Watch the video version on YouTube: https://youtu.be/GuRXZSqdWCU

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