First World, Third WorldOver a billion people still live in abject poverty. International aid, and its organs such as the World Bank, can claim only limited success. Indeed, in some parts of the world, especially Africa, they must acknowledge failure. William Ryrie analyses the record of international aid with ruthless honesty, while sympathising with its objectives. Aid has often had perverse and harmful effects. Probably its most basic failure has been to undermine the working of the market economy, which offers the best hope of rapid growth and declining poverty. Ryrie argues that a new intellectual basis for aid must urgently be found and the development task redefined, concluding this stimulating book with some novel and provocative proposals. |
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achieved activities aid agencies aid programmes amongst amounts Argentina Asia Bank's billion capitalist cent Chapter China communist companies competition crisis debt decades democracy developing countries developing world development agencies donors early east EBRD economic growth effective efficiency equity especially Europe European exports fact finance financial system foreign investment Fund IBRD IFC's impact important income per head India Indonesia industrial countries influence infrastructure institutions international aid international development International Finance Corporation investors involved Japan Latin America lending loans macro-economic mainly market economy market-based number of countries operate organisations ownership period play policies political poor countries poverty pressures private capital private sector private-sector aid privatisation problems projects question rates recognise reform region risk Robert McNamara role Russia social staff standards of living state-owned Sub-Saharan Africa Tanzania Third World Third World countries western World Bank World Bank Group