Quote of the Week

“Development is not that hard. We now have over 300 years of evidence of what works (and what doesn’t) in increasing growth, alleviating poverty and suffering. For example, we know that countries that finance development and create jobs through trade and encouraging foreign (and domestic) investment thrive.

We also know that there is no country — anywhere in the world — that has meaningfully reduced poverty and spurred significant and sustainable levels of economic growth by relying on aid. If anything, history has shown us that by encouraging corruption, creating dependency, fueling inflation, creating debt burdens and disenfranchising Africans (to name a few), an aid-based strategy hurts more that it helps.

It is true that interventions such as the Marshall plan in Europe and the Green Revolution in India played vital roles in economic (re)construction. However, the key and (often ignored) difference between such aid interventions and those plaguing Africa today is that the former were short, sharp and finite, whereas the latter are open-ended commitments with no end in sight. The problem with an open-ended system is, of course, that African governments have no incentive to look for other, better, ways of financing their development.”

– Dambisa Moyo


6 thoughts on “Quote of the Week

  1. ….and what has this “300 yrs of evidence” done. F&%$ ALL!. MOST people on this continent are still poor, abused and suffering, so really, don’t/can’t read.

    CORRUPTION = DEMOCRACY it seems!. Zero HOPE!.

  2. Not disagreeing or agreeing, just being cynical of all these surveys, summaries, observations and commentaries that ultimately do zip all for this vast and very very rich continent……

    Oh, pardon my expletives. Realised only now that I used one in my first response.(my Irish blood fails me mightigly—-)

    • Oh I understand now!

      I agree with Dambisa when she says we keep doing study after study and research this and that but we KNOW what the solutions are that will work, but for the powers (African dictators) that be, that would mean less money in their Swiss bank accounts and they would *gasp* actually have figure out how to run a competent and effective government.

      lol I’ll fix the expletive. I’m glad people are passionate about topics like aid reform in Africa.

  3. I’m so passionate that I literally foam at the mouth whenever this topic’s being discussed. I generally excused myself, cause I’m not capable of being logical and calm anymore. And this only when speaking with (some) fellow black people about the topic as they can’t/refuse to see what Dr Moyo’s saying.

    Grant you though, the problem also lies with the huge so-called charity organisations, who are big businesses themselves…..

    Uhm, I kinda resent that Swiss bank statement. We have tons of ethical laws in place to weed out such practices. Our banks don’t do business with dictators or
    politically sensitive countries…..

    • There are plenty of articles discussing how dictators secretly stash their money in off-shore account and Switzerland is one of the places, whether or not the Swiss are aware of it.

      The point is if you cut off the tap on all this money that they don’t uses effectively, they are forced to do what other actual leaders do and figure out solutions to their countries problems.

      And this only when speaking with (some) fellow black people about the topic as they can’t/refuse to see what Dr Moyo’s saying.

      I don’t understand this either. You can compare it to AA’s when you talk about welfare and how they should never be satisfied or proud about depending on the government for money. There was a time when black Americans were ashamed of having to receive gov’t handouts. I don’t see too much of that anymore. Maybe some of those Africans think they benefit some way with the status quo 😦

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