People I (Mostly) Admire 30. Dambisa Moyo Says Foreign Aid Can’t Solve Problems, but Maybe Corporations Can
Jun 5, 2021
Dambisa Moyo, a renowned economist and author of bestsellers like 'Dead Aid,' dives into the limitations of foreign aid in Africa, suggesting it often fosters dependence instead of growth. She discusses how corporate boards can play a vital role in addressing societal challenges and contrasts the differing approaches of Western and Chinese aid strategies. Moyo also promotes innovative ideas, such as incentivizing vaccinations with lotteries, and emphasizes the importance of diverse perspectives in economic problem-solving.
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Foreign Aid Harm
- Dambisa Moyo argues that foreign aid to Africa has been detrimental, fostering corruption and hindering economic growth.
- She emphasizes that long-term aid creates dependency, unlike the Marshall Plan's finite approach.
Gates' Criticism
- Bill Gates criticized Moyo's book, "Dead Aid," as promoting evil.
- Moyo clarifies that her argument doesn't apply to emergency aid or NGO aid, but rather to systemic, perpetual government-to-government aid.
China's Approach
- Moyo contrasts the Western model of giving aid to governments with the Chinese model of investing in infrastructure.
- She suggests that China's approach, while not without challenges, offers a fresh perspective and competition for traditional aid donors.
