RESOURCES: DEAD AID - IS THERE A BETTER WAY FOR AFRICA?

I am finishing up a most interesting (and somewhat controversial) book about the failure of government supported aid to Africa. More than a thorough and fascinating history of foreign aid to Africa and a detailed recouting of its failure, the author offers an alternative to African countries dependence on foreign aid that is respectful and insightful. Whether the DEAD AID plan (consisting of shifting the focus from aid to other sources of finance including: bonds, foreign direct investment, trade, remittances, and micro-finance) is a viable plan or not is somewhat of the current controversary. It is hard, however, not to become energized by the author's passion for her native continent and her desire to see Africa freed of its dependence, poverty, and corrruption. If nothing else, it fuels discussion and hopefully policy for a better approach to African aid...one that shows promise of change.

-Patrick

Dead Aid: Why Aid Is Not Working and How There Is a Better Way for Africa by Dambisa Moyo


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: stopping the tide of money that, however well-intentioned, only promotes corruption in government and dependence in citizens. 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.