The GOOD 100: Dambisa Moyo The GOOD 100: Dambisa Moyo
The GOOD 100: Dambisa Moyo
We love to take care of Africa. But does Africa need taking care of?Since 1960, Africa has received more than $1 trillion in foreign aid, and by many measures, its people aren't better off. Of course, if an old white man were to argue that perhaps that trillion has done more harm than good, it would be easy to write off his opinion. To hear that same opinion from the mouth of Dambisa Moyo, however, casts it in a whole different light.Moyo, the author of Dead Aid, was born in Zambia, educated at Harvard and Oxford, and has worked at the World Bank and Goldman Sachs. So when she says that there are better solutions to African poverty than simply throwing money at it, it's worth listening to her."Let's get real," she says. "If a company had 60 years with the record of performance that aid to Africa has had, the company would have been shut down."Dead Aid offers a prescription for African development that doesn't involve giving away money, but instead proposes a capitalistic approach to enable African nations to tap into the financial markets to their own benefit. By receiving and slowly improving credit ratings and by issuing bonds, while encouraging foreign investment, Moyo argues, African nations can free themselves from a damaged system and grow using the same paradigm that works for developed nations. It's not as far off as you might think: There are 19 African stock markets, and 16 countries have credit ratings. "You never hear that story," says Moyo. "All you hear is bad news."For a fairly dense treatise on economic policy, Moyo's book has received a surprising amount of attention. Rwanda's president, Paul Kagame, praised Moyo's arguments in an op-ed for the Financial Times; Jeffrey Sachs, a tireless advocate of U.S. aid to Africa, denounced them, accusing Moyo of accepting the equivalent of aid in scholarships to attend Harvard and Oxford, and noting that Kagame's country still depends largely on aid.Moyo isn't deterred. "Unfortunately, people like Jeffrey Sachs, their response was kind of disappointing, because there is definitely a debate to be had. To outright dismiss [the book] as a crazy argument seems rather silly," she says.Measuring the efficacy of aid is tricky, and it's indeed possible that aid is "working," but the system surely isn't working perfectly. Having a discussion about improving it can only help. And having a native African as a prominent part of the discussion is refreshing, to say the least, especially as a check to the elements of paternalism and colonialism that can insidiously slip into the discussion."I never thought I would be quoting George Bush, but he said that we need to be careful of the soft bigotry of low expectations," Moyo says. "The world is sleepwalking through the problems that are afflicting Africa because we have very low expectations from that continent."
Trump’s First 100 Days Explained In 100 Tweets The measure of this president’s performance in the medium he knows best
16 Great* Things That Came Out Of Trump’s First 100 Days A progress report—of sorts
Michelle Obama Says She Won’t Ever Run For Office “It’s good to not have the weight of the world upon your shoulders”
Heineken Created The Ad Pepsi Wishes It Had This is what happens when beverages try to be woke
Trump’s ‘Criminal Alien’ Help Line Trolled With Reports Of Extraterrestrial Activity People are reporting UFO sightings and alien abductions
MLB’s First African-Born Player Made His Debut Last Night Gift Ngoepe singled in his first MLB game
Former White House Photographer Is Inviting Comparisons By Posting Pics Of Obama’s First 100 Days In Office This Simple Graphic Shows How Many More Jobs Solar Power Creates Than Coal Spurs Coach Gregg Popovich Quietly Left A $5,000 Tip To A Memphis Waiter 7 National Monuments The President Wants To Strip Of Protections A 1,000-Year-Old Recipe Could Be The ‘Silver Bullet’ Of Medicine How Activists Are Diversifying Wikipedia One Edit At A Time President Trump Signs Executive Order To Reassess National Monument Designations Incredible New Experiment Shows Babies Can Be Grown In Artificial Wombs Republicans Quietly Exempt Themselves From Obamacare Cuts This Box Puzzle Is So Insanely Difficult That It’s Near-Impossible Even With A Video Tutorial Here’s How Much Coffee You Should Drink If You Want To Be Healthy Under Cover Of Night, New Orleans Removed A Monument To Racism On A Very Fitting Occasion
The GOOD 100 Meet the remarkable individuals tackling pressing global issues today. The GOOD Guide to Recycling The objects we discard aren’t trash. They’re a resource. The Local Globalists Meet 17 innovators who are changing our future for the better. Project Literacy Building partnerships for a more literate future.