USAID Isn’t About Helping People. It’s About Political Influence. - Ian Vásquez

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Mar 7, 2025

Ian Vásquez, Vice President for International Studies at the Cato Institute, discusses the true motives behind USAID and the ineffectiveness of foreign aid funding. He emphasizes that, instead of fostering growth, these programs often lead to dependency and corruption in recipient nations. The conversation then shifts to Argentina, where newly-elected Javier Milei implements radical free-market reforms to combat inflation. They explore the historical context of economic policies and the role colonialism has played in shaping current economic landscapes.

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ANECDOTE

Failures of Foreign Aid Interventions

Books like "The Tyranny of Experts" and "The Idealist" highlight the failures of foreign aid interventions.
These interventions often lack local knowledge and can be destructive, as seen with Jeffrey Sachs's Millennium Villages Project.

ANECDOTE

Bill Easterly's Criticism of Foreign Aid

Economist Bill Easterly, initially a World Bank researcher, was fired for his research showing the ineffectiveness of foreign aid.
He later wrote books like "The White Man's Burden", contributing to the debate about foreign aid's role in development.

INSIGHT

Foreign Aid's Resistance to Change

The foreign aid industry, like other government programs, is resistant to downsizing due to vested interests.
Aid agencies often justify their existence by lending, regardless of policy reforms or actual development outcomes.

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The idealist

Nina Munk

The Idealist chronicles Jeffrey Sachs' efforts to alleviate poverty in Africa through the Millennium Villages Project, a $120 million initiative launched in 2006. Nina Munk's deeply reported narrative explores the challenges faced by Sachs' idealistic approach, highlighting the complexities of development work and the gap between theoretical solutions and real-world outcomes. The book offers a nuanced critique of the project's successes and failures, emphasizing the need for more pragmatic and sustainable solutions to poverty.

The Tyranny of Experts

Economists, Dictators, and the Forgotten Rights of the Poor

William Easterly

The Forgotten Man

A New History of the Great Depression

Amity Shlaes

In 'The Forgotten Man,' Amity Shlaes offers a striking reinterpretation of the Great Depression by shifting the focus from the New Deal to the moving stories of individual Americans who endured the era. The book explores the brave leadership and perseverance of common people, such as the Schechters, a family of butchers in Brooklyn, and Bill W., the founder of Alcoholics Anonymous. Shlaes also examines the failures of Presidents Hoover and Roosevelt in understanding the prosperity of the 1920s and the long-lasting impact of their policies. The book argues that the real question about the Depression is why it lasted so long, rather than whether Roosevelt ended it with World War II.

The White Man's Burden

Why the West's Efforts to Aid the Rest Have Done So Much Ill and So Little Good

William Easterly

In this book, William Easterly critiques the West's economic policies towards the world's poor, arguing that these policies have led to more harm than good. Easterly, drawing from his decades of experience in international development, advocates for a more nuanced approach that focuses on small, incremental solutions rather than grand, macro-level plans. He emphasizes the importance of accountability, independent evaluation of aid programs, and understanding the domestic conditions of the countries receiving aid.