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

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Farrar, Straus and Giroux, Mar 17, 2009 - Political Science - 208 pages
3 Reviews

In the past fifty years, more than $1 trillion in development-related aid has been transferred from rich countries to Africa. Has this assistance improved the lives of Africans? No. 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 Aid, Dambisa Moyo describes the state of postwar development policy in Africa today and unflinchingly confronts one of the greatest myths of our time: that billions of dollars in aid sent from wealthy countries to developing African nations has helped to reduce poverty and increase growth. 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.

 

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Dead aid: why aid is not working and how there is a better way for Africa

User Review  - Not Available - Book Verdict

Economist Moyo (former head, Economic Research and Strategy for Sub-Saharan Africa, Goldman Sachs) makes a startling assertion: charitable aid to African nations is not just ineffective-it is worse ... Read full review

Review: Dead Aid: Why Aid Is Not Working and How There Is a Better Way for Africa

User Review  - Jamie Attard - Goodreads

In my mind, Africa is a child, constantly being manipulated and exploited by the forces of the world. Certainly not an innocent child, but one constantly prevented from fulfilling his/her potential. I ... Read full review

Contents

Forewordby Niall Ferguson
Preface
Introduction
PART IThe World of Aid
1 The Myth of Aid
2 A Brief History of Aid
3 Aid Is Not Working
4 The Silent Killer of Growth
6 A Capital Solution
7 The Chinese Are Our Friends
8 Lets Trade
9 Banking on the Unbankable
Dongo Revisited
10 Making Development Happen
Notes
Bibliography

PART IIA World without Aid
The Republic of Dongo
5 A Radical Rethink of theAidDependency Model

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About the author (2009)

Dambisa Moyo is the author of How the West Was Lost. Born and raised in Lusaka, Zambia, Moyo completed a Ph.D. in economics at Oxford University and holds a master's from Harvard University's John F. Kennedy School of Government. She worked for the World Bank as a consultant, and also worked at Goldman Sachs for eight years. In 2009, Time magazine named her one of the "100 most influential people in the world." Her writing frequently appears in publications including the Financial Times, The Economist, and The Wall Street Journal.

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