Editorial Reviews. From Publishers Weekly. In this important analysis of the past fifty years of In Dead Aid, Dambisa Moyo describes the state of postwar development policy in . and occasionally conflicts outright with the interests of citizens-free mosquito nets, for instance, killing the market for the native who sells them. Dambisa Moyo. Farrar Dead Aid is the story ofthe failure ofpost-war development policy. the aid-free solution to development: why it is right, why it has. A Matter of Dishonesty. A Review of: Dambisa Moyo. Dead Aid: Why Aid is Not Working and. How There is . bonds are a good alternative to free aid grants. 6.
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Has this assistance improved the lives of Africans? In fact, across the continent, the recipients of this aid are not better off as a result of it, but worse—much worse.
In Dead AidDambisa Moyo describes the state of postwar development policy in Africa today and unflinchingly confronts one of the greatest myths of our time: In fact, poverty levels continue to escalate and growth rates have steadily declined—and millions continue to suffer.
Provocatively drawing a sharp contrast between African countries that have rejected the aid route and prospered and others that have become aid-dependent and seen poverty increase, Moyo illuminates the way in which overreliance on aid has trapped developing nations in a vicious circle of aid dependency, corruption, market distortion, and further poverty, leaving them with nothing but the “need” for more aid.
Debunking the current model of international aid promoted by both Hollywood celebrities and policy makers, Moyo offers a bold new road map for financing development of the world’s poorest countries that guarantees economic growth and a significant decline in poverty—without reliance on foreign aid or aid-related assistance. Dead Aid is an unsettling yet optimistic work, a powerful challenge to the assumptions and arguments that support a profoundly misguided development policy in Africa.
And it is a clarion call to a new, more hopeful vision of how to address the desperate poverty that plagues millions. Enter your mobile number or email address below and we’ll send you a link to download the free Kindle App.
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Read more Read less. Kindle Cloud Reader Read instantly in your browser. Customers who bought this item also bought. Page 1 of 1 Start over Page 1 of 1. The End of Poverty: Economic Possibilities for Our Time. The White Man’s Burden: The Elusive Quest for Growth: Editorial Reviews From Publishers Weekly In this important analysis of the past fifty years of international largely American aid to Africa, economist and former World Bank consultant Moyo, a native of Zambia, prescribes a tough dose of medicine: With a global perspective and on-the-ground details, Moyo reveals that aid is often diverted to the coffers of cruel despotisms, and occasionally conflicts outright with the interests of citizens-free mosquito nets, for instance, killing the market for the native who sells them.
In its place, Moyo advocates a smarter, though admittedly more difficult, policy of investment that has already worked to grow the economies of poor countries like Argentina and Brazil. Moyo writes with a general audience in mind, and doesn’t hesitate to slow down and explain the intricacies of, say, the bond market.
This is a brief, accessible look at the goals and reasons behind anti-aid advocates, with a hopeful outlook and a respectful attitude for the well-being and good faith of all involved.
Moyo, who was born and raised in Zambia, joins a small but growing number of observers including microfinance expert Muhammad Yunnus who argue that charity from Western nations cripples African governments by fostering dependency and corruption without requiring positive change.
Deriding efforts to increase giving by foreign celebrities like U2 singer Bono as out of touch with the real needs of African countries, Moyo instead proposes solutions like new bond markets, microfinancing, and revised property laws. Moyo also singles out commercial investment from the Chinese rather than general aid and holds it up as an example for other nations to follow in the future.
Whether one agrees or disagrees with Moyo’s argument for such capitalist intervention in Africa, this straightforward and readable work should provide some food for thought.
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This is a must-read. Granted, Moyo is doubtless receiving more press simply because she is a black African female ,oyo a fairly conservative opinion of aid. Others have been saying this same thing for a long time, but it’s often disregarded as an excuse for saving money or keeping help from the poor.
I live and work in Haiti, and this is completely as applicable to this country as it is to Africa, although the Chinese influence doesn’t apply here. I recommend this for all aid workers, and really anyone connected with emerging or not economies.
Aid is a bad thing!
Of course, Moyo doesn’t go quite that far, but I certainly do. She bases her findings on well documented data, and arranges it in quite an easy-to-read volume.
Dead Aid: Why Aid Is Not Working and How There Is a Better Way for Africa by Dambisa Moyo
I’m looking forward to more works by her. Kindle Edition Verified Purchase. As always, a thoroughly researched book with an air of authority that could only come from an African talking about affairs related to Dambisa argues that in studying the data it becomes obvious that aid, especially without an end datedoes not improve any economy and never will.
In fact it has the opposite effect by promoting corruption, a lack of ,oyo and political wars by those jostling to be the atop of the funnel for free money. She argues that a better way is for African governments to pursue funding from the Capital markets, drop inefficient trade barriers between deda other in the continent, stimulate intra trade as the West and Europe are not our friends, see China mooy the friend it is and develop infrastructure.
These all require obtaining credit ratings, fiscal discipline, attempts at good governance etc. When you squander aid money, more will come next year. When you squander money obtained from issuing bonds and world investors, good luck getting more for another decade. This is the essence of this book. You can feel how close to her heart writing free book is becausewhile wid a little outdated, she has noted that for too long the debate around how to fix the problems in Africa has been dominated by white Non-african males.
I can’t write my opinions without creating conflict with a miyo of aid industry people who would argue ’til the cows come home. We have decades of history to make the case that this author does, though, and when you look back at aid’s track record, it speaks for itself when you ignore the cherry-picked metrics used by the aid industry and look at the big picture.
I’ve already said too much.
Just read the book. It’s quick, it’s well-written, it’s easy to understand if you have a modicum of understanding of finance. Considered and critical view of foreign aid to Africa and why such aid must stop as it is applied dewd. Moyo has examined why foreign aid does not work, has not worked, and will not work cambisa the future to alleviate poverty in Africa. The book is written for lay persons such as myself but it is replete with cases studies and references sufficient enough for any academic.
This should be read by anyone in government aid and anyone considering trying to help the poor. The book offers hope for the future and it lays rambisa a clear and simple plan of action.
I wish Ms Moyo was in the US State Department instead of the career bureaucrats there now who have wasted billions of US aid dollars only to make things worse for those who need help the most. One person found this helpful.
Waste of money, ironically. Previous 1 star reviews fairly sums up book. I add my astonishment at Dr. After ‘Dead Aid’ I felt that magnificent education had been hijacked by an opportunist “flimflam damhisa woman “. And worse for it having “validated?
Are we really this gullible? Dambisa Moyo’s masterpiece is an economic blueprint intended to serve as a paradigm for weaning Africa off the debilitating aid-dependency syndrome that has kept the continent in perpetual economic stagnancy for decades.
Using dependable statistics, Moyo argues that government-to-government or bilateral aid which should be distinguished from charity-based aid to Africa undermines the ability of Africans to xambisa their own best economic and political policies.
As she puts it: It is itself an underlying cause of social unrest and possibly even civil war. Moyo notes that the “prospect of seizing power and gaining access to unlimited aid wealth is irresistible. Yet, aid has helped make the poor poorer; economic growth slower. According to Moyo, the notion that foreign aid can alleviate systemic poverty, and has done so in Africa is tantamount to a myth. Millions in Africa, she notes, are poorer today on account of aid dependency.
Indeed, aid has been and continues to be, an unmitigated political and economic and humanitarian disaster for Africa. Aid is not benign–it is malignant. In short, aid is not part of the solution; it is the dambsia. And here is how. Aid breeds corruption in Africa. If the world has one picture of the African continent, it is one of corrupt statesmen.
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With very few exceptions, African leaders have crowned themselves in gold, seized land, handed over state businesses to relatives and friends, diverted billions of aid-money to foreign bank accounts, and generally treated their countries like giant personalized cash dispensers. Roughly the same amount was stolen from Nigeria by President Sani Abacha and placed in Swiss private banks.
The list of corrupt practices in Africa is endless. However, the point about corruption in Africa is not that it exists; the point is that foreign aid is one of its greatest aides. Aid creates a vicious cycle of dependency in Africa; a cycle that chokes off desperately needed investment, instills a culture of kleptomania, and facilitates rampant and systematic corruption, all with deleterious consequences for economic growth.
It is this cycle, Moyo posits, that “perpetuates underdevelopment, and guarantees economic failure in the poorest aid-dependent countries” Aid creates a fertile ground for rent-seeking, that is, the use of governmental authority to take and make money without trade or production of wealth. Because foreign aid is fungible–easily stolen, redirected and extracted– it facilitates corruption.
At a very basic level, an example of this is where a government official with access to aid money set aside for public welfare takes the money for his own personal use.