The Foreign Aid Paradox | International Liberty
The Foreign Aid Paradox
October 31, 2016 by Dan Mitchell
At the start of the year, I argued that capitalism was the way to get more growth in poor nations. Foreign aid, by contrast, hasn’t worked very well.…there’s a big difference between good intentions and good results. If you examine the evidence, it turns out that redistribution from rich nations to poor nations is just as counterproductive as redistribution within a society. But don’t believe me. Professor William Easterly of NYU spent many years at the World Bank working on issues relating to economic development and he’s written entire books on the failure of foreign aid.