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

Dead Aid Why Aid Is Not Working and How There Is a Better Way for Africa In the past fifty years than 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 contine

  • Title: Dead Aid: Why Aid Is Not Working and How There Is a Better Way for Africa
  • Author: Dambisa Moyo Niall Ferguson
  • ISBN: 9780374139568
  • Page: 355
  • Format: Hardcover
  • In the past fifty years, 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 policyIn the past fifty years, 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 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, hopeful vision of how to address the desperate poverty that plagues millions.

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      Dambisa Moyo Niall Ferguson

    About Author

    1. Dr Dambisa Moyo is an international economist who writes on the macroeconomy and global affairs.She is the author of the New York Times Bestsellers Dead Aid Why Aid Is Not Working and How There Is a Better Way for Africa , How The West Was Lost Fifty Years of Economic Folly And the Stark Choices Ahead and Winner Take All China s Race for Resources and What It Means for the World.Ms Moyo was named by Time Magazine as one of the 100 Most Influential People in the World , and was named to the World Economic Forum s Young Global Leaders Forum Her work regularly appears in economic and finance related publications such as the Financial Times, the Economist Magazine and the Wall Street Journal.She completed a doctorate in Economics at Oxford University and holds a Masters degree from Harvard University She completed an undergraduate degree in Chemistry and an MBA in Finance at the American University in Washington D.C

    One thought on “Dead Aid: Why Aid Is Not Working and How There Is a Better Way for Africa

    1. Dead Aid is an interesting, provocative look at the foreign aid industry and its effects on Africa Dambisa Moyo, who formerly worked for Goldman Sachs and the World Bank, draws a conclusion not unknown to others in the field development aid as differentiated from humanitarian aid has not only done little good for the nations of Africa but has indeed caused great harm While I don t necessarily disagree with her conclusion, I didn t find her arguments particularly convincing.There is no question t [...]

    2. Woah woah woah First of all, what is with the foreward here The simple fact that Dead Aid is the work of an African black woman is the least of the reasons why you should read it But it is a good reason nonetheless What Niall Ferguson means here is he found a person with the right national gender background to prop up as a mouthpiece for his neoliberal economic agenda which he then gleefully presents in the rest of the forward and could all the critics calling it colonial back off now huh I have [...]

    3. Africa is this huge, Africa shaped continent south of Eurasia and kind of east of South America It s well known for many reasons, such as elephants, lions but not tigers or bears , and cheetahs It s the place where modern hominins evolved yet now, millions of years later, it is one of the most impoverished places on Earth Of course, I m speaking broadly here As anyone who has actually done much work on or in Africa will tell you, and as Dambisa Moyo points out in her book, Africa is a convenient [...]

    4. An extremely neoliberal approach to the problem of development in Africa.Written by a Zambian economist educated in the UK US you can tell the book outlines both the problems with current aid to Africa and suggests how the market can offer a better solution.It was an extremely interesting read not least the chapter on China however, there is no disguising that it is a very one sided view of the problems facing Africa Noting the issues with infrastructure and liquidity, Moyo offers market based s [...]

    5. I just finished reading Dead Aid by Dambisa Moyo.Her primary thesis is that not only has aid not helped to end poverty a view also held by William Easterly The White Man s Burden and The Elusive Quest for Growth, Peter Bauer, and others but on balance, aid does harm than good.Moyo has a PhD in economics, interestingly obtained under the tutelage of foreign aid advocate, Dr Paul Collier The Bottom Billion.The book is short and quickly glosses over multiple topics For someone unfamiliar with the [...]

    6. This little book has been a hit with economists who think that the only solution to grinding third world African poverty must be market based While it makes good points particularly that humanitarian aid to Africa hasn t worked as a way to start economic development those points get lost in Moyo s scattershot approach and lack of documentation I am sure she has read everything available on the subject but there is no bibliography and only sketchy notes so she doesn t tell us where she got her id [...]

    7. I don t think the author ever really made the case for her proposal She did however make some fairly compelling critiques of an aid model which may or may not reflect current reality.My biggest disappointment is that her proposals chiefly financing through bonds and FDI while interesting are tossed out as though their benefits are self evident There were scattered sentences here and there which could have formed the nucleus of arguments for her position, but these often appeared late in the book [...]

    8. Dead Aid, in a well researched and convincing manner, describes the past and current justifications for humanitarian and development aid in Africa, the drawbacks and failures of this method, and suggests several alternatives for the future As a layman in the field, I appreciated the clear and coherent writing style and logical construction of the arguments As a layman, though, I also lack the background to objectively judge the value of the alternate plans she proposes I do have some uneducated [...]

    9. As the title suggests, Dambisa Moyo s argument is that not only is foreign aid in Africa not working, it is actually the main cause of Africa s failure to reach its full economic and social potential This is an interesting and provocative thesis, and one that certainly challenges allot of mainstream thinking However, if you are expecting that Dr Moyo will challenge conventional thinking with some hard evidence, you may be dissapointed The book mainly consists of some mainstream free market econo [...]

    10. I liked this book a whole lot Dambiso Moyo is pretty much saying something that most people think is CRAZY she is suggesting that we STOP sending aid to Africa All of it Why Because, she says, it s clearly not working It doesn t give African governments any incentive to change things, it leads to corruption, and regular people never see a dime of it anyway We need change and one way of doing that is by cutting off aid entirely When I first heard this I thought it sounded nuts and totally irratio [...]

    11. It s pretty hard to argue with the case made by Dambisa Moyo in Dead Aid Moyo criticizes the Jeffrey Sachses and the Bonos of the world, and calls for a shift away from and ultimately, a cessation of the aid based development model championed by Western policymakers and pop stars Dead Aid is a quick read, but packs a powerful punch, demonstrating how aid has done harm than good to Africa and Africans, and how the answer to SUSTAINABLE and substantial economic growth actually lies in market base [...]

    12. I started this book in 09 but picked it up and re started it again last month, given the context of my hopeful Peace Corps deployment as a business volunteer in Africa For anyone who isn t really comfortable with the idea of western governments sending billions of dollars in taxpayer money to Africa, where it often ends up in the corrupt hands of warlords, or with the idea, propagated by Bono et al that Africa needs saving through lavish packages of aid, this is a book that will resonate loudly [...]

    13. A fascinating view of how government aid sent to Africa has not only been unsuccessful, but has actually done harm than good to the African continent and its people Moyo gives clear examples of how financial aid has been ineffective, along with many possible alternatives that will help further the continent s development and growth A great read for both world leaders and citizens interested in international development.

    14. , , Dead Aid , , dead end 2009 , , 150 , , , , , , , , , 1 50% 1981 2002 , 60 5 50% 15 , , , , , , , , , , 1960 , , 1970 , 1982 , , , , 1980 , 1990 , , , , , , , , , , , , 2000 , , , , , , , , , 2 20 , , 1970 , , , 85% , , , , , , , , , 5 , 50 3% , 15% , , , , , , , , , , , , , , , , , , , , , 500 , 15 100 5 , , , , , 5 , , , , , , , , , , , , , , , , , , , 5 10 , , , , , , , , , , , , .

    15. A review of aid has been needed for a long time, as aid referring specifically to loans to African governments from MFIs arguably hasn t brought sustainable economic growth or alleviated poverty as intended Although I agree with some of her points, I m very sceptical of most of her views For example, she argues for use of bond markets for all African countries before admitting that many are a long way off from being able to access bond markets as credit ratings and inclusion on indices are neede [...]

    16. I loved reading the book its clear and concise I agree with her argument that aid has fostered laziness and corruption in Africa but I am struggling to come to terms with one of her solutions She tends to believe that capital markets are able to avoid some of these failures and challenges I personally contend that the issue is with the conditions that come with aid and the thieves we have for leaders With better leaders aid can be used to develop countries especially considering that the aid com [...]

    17. Love Everyone interested in community development, fundraising, and aid for developing countries should read this book I would love to hand this book to all the major politicians and see if we could make some change out of it.

    18. Impressive, different and definitely a must read.Moyo delves into the world of African aid and explores its effects and its impact on Africa She comes to the conclusion that aid most especially Bilateral Multilateral aid is bad for Africa instead of leading to Africa s development, it actually hinders progress.For the first part of the book, Moyo backs her conclusion with facts and statistics on the effect of aid on post colonial Africa and how the state of Africa after it first gained independe [...]

    19. Dead Aid is thematically divided into three parts 1 Development aid has been detrimental to Africa s development2 The proposed solutions to development aid3 The conclusion that all aid to Africa should be stopped with 5 years warningMoyo s proposal that development aid has done harm then good is not a new idea, and she cites many well know statistics as to why this is The major issues include bad government policies and corruption This section could have been expanded upon to be robust and evi [...]

    20. I read this book for my research project about Overseas Development Aid ODA and had confirmed all the terrible conclusions about ODA that I had drawn from the many other books, articles, reports, etc, that I have read throughout my research Moyo writes down the things that I m too scared to say to other people that the ODA system of the past 40 years is not working, that ODA is largely making things worse, that aid has largely helped horrific dictators stay in power and has assuaged the guilty c [...]

    21. I possess a CFA charter which means that I have a professional knowledge of banking and credit Forget what the critics say Dambisa Moya is not a black woman but a professional banker who knows how lending and banking work Dambisa Moya s thesis is simple If Western financial institutions applied the same principles to Africa that that they have always applied in their own countries, Africa would quickly become rich and prosperous.It is unfortunate that Moyo allowed Niall Ferguson who is sometimes [...]

    22. This book is extremely troubling and worth reading for that reason alone What Steve Berkman Gods of Lending does at the micro level showing how aid agencies may be making things worse because their funds are so vulnerable to corruption Moyo does at the macro level She returns again and again to the amount of aid that has been given to African countries over the last 5 decades and points to how little there is to show for it The contrast between aid to Africa which has an endless horizon and rela [...]

    23. Current aid transfers have become a key factor in paralysis corruption of African economies Incentives for change Not so much on the African side, but for Western economies, she uses the example of the political pressure used to push the African Growth and Opportunity Act AGOA 2000 through as a lever Her Five Year Plan for cold turkey appears a bit brutal for the bottom But as she notes, the wretchedness continues for them regardless so might as well spin the wheels a bit to get out of the rut p [...]

    24. It took me a while to finish this one but I found it really interesting Despite the fact of what you may think about an economics book, it is pretty easy to understand Obviously there are some parts in which you get stuck, but it is not hard to read en plus, not a long book given the amount of topics it has inside I like the fact that it starts with a bit of Aid history, it heps you understand the context and how not all aid is the same The ideas are good and, though I would like to read some cr [...]

    25. A fresh perspective on development in Africa Not so much I don t necessarily agree that AID should be entirely eliminated but we can t deny how ineffective a majority of it has been due to corruption, poor leadership and numerous other reasons too many to cite Do better conditions, implementations and monitoring need to be provided with AID Yes Do African countries need sustainable and long term methods of sustaining their economies Yes The answer is a combination of both AID and other self re [...]

    26. Her work is at times arrogant and overly simplistic, but the core thesis, that aid encourages corruption, undermines the emergence of a tax base from a middle class and frustates SMEs is well made if by others who she quotes Increases in foreign aid are correlated with declining domestic savings rates private foreign capital and investment fall as aid riseshigher aid induced consumption leads to an environment where much money is chasing fewer goods higher inflation p60 I also learnt that 2 3rd [...]

    27. Largely meandering with no coherent argument about why aid, itself, is bad The largest thesis I found, one of the most highlighted quotes in the kindle version, was that aid promotes laziness by those who get too comfortable with the aid, simply sitting back and waiting for the checks This is essentially Reagan s welfare queen ideology, and I m not sure how something so insulting to Africans got published and widely promoted Bono s efforts to have debt nullified are dismissed as an insult simply [...]

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