Tuesday, April 08, 2008

Global Welfare Reform

Ken Hagerty examines William Easterly's take on foreign aid and the concept of free cities. An excerpt:

In a recent essay Easterly writes, "The West's efforts to aid the Rest have been even less successful at goals such as promoting rapid economic growth, changes in government economic policy to facilitate markets, or promotion of honest and democratic government. The evidence is stark: $568 billion spent on aid to Africa, and yet the typical African country is no richer today than 40 years ago. The evidence suggests that foreign aid results in less democratic and less honest government, not more."

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