During the past fifty years, more than $1 trillion in development-related aid has been transferred from rich countries to Africa. Dambisa Moyo asserts, however, that this assistance has made African people no better off. "Africa's real per capita income today is lower than in the 1970s, with over half of the 700 million Africans living on less than a dollar a day."
Eschewing the "glamour aid" of celebrities such as Bob Geldof and Bono, she argues that the key to transforming African countries is to make them less reliant on foreign aid and compel them to "enforce rules of prudence and not live beyond their means."
Dambisa Moyo is an international economist and New York Times best-selling author whose books take on challenging, economic issues. In her most recent book, Winner Take All: China’s Race for Resources and What It Means for the World, Dambisa tackles one of the most important and least discussed stories of the 21st century: the impending commodity crisis. During her UP presentation, Dambisa will discuss the implications of water, arable land, and fossil fuels running out across global markets; and particularly, what it means to the U.S. Dambisa 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. Moyo is a regular contributor to publications such as The New York Times, Financial Times, The Economist, and Wall Street Journal, and has appeared as a guest contributor on CNN, CNBC, Bloomberg, BBC, and Fox Business News.
Peter M. Robinson is a research fellow at the Hoover Institution, where he writes about business and politics, edits the Hoover Institution's quarterly journal, the Hoover Digest, and hosts Hoover's television program, "Uncommon Knowledge."
Robinson is also the author of three books: How Ronald Reagan Changed My Life; It's My Party: A Republican's Messy Love Affair with the GOP; and the best-selling business book Snapshots from Hell: The Making of an MBA.
Economist and author Dambisa Moyo responds to her critics, explaining the long-term impact that charitable HIV/AIDS programs will have on building sustainable economies in Africa. She theorizes that such financial contributions allow African governments to be dependent on other world powers.
Economist and author Dambisa Moyo defends her opinion that impoverished countries need a "decisive, benevolent dictator." She explains that she is in favor of democracy, but they need to occur naturally - without external instigation.
Transfer of capital, goods, or services from one country to another. Foreign aid may be given in the form of capital transfers or technical assistance and training for either civilian or military purposes. Its use in the modern era began in the 18th century, when Prussia subsidized some of its allies. After World War II, foreign aid developed into a more sophisticated instrument of foreign policy. International organizations, such as the United Nations Relief and Rehabilitation Administration, were created to provide aid to war-ravaged countries and newly freed colonies. Foreign aid is often given with conditions attached, such as the requirement that all or part of it be used to buy goods from the donor country. See alsoInternational Monetary Fund; Marshall Plan; World Bank.
I could not have said it better. She does an excellent job of sticking to the point. I've seen other interviews where the interviewer focused more on her experience at Goldman Sachs than on what she discussed in her book. One of the best interviews I've seen so far.
We have come to a post colonial milestone, lets stop patronizing Africa and truly let them administer their own future. Dambisa Moyo needs to be included in any discussion on the future of Africa. Africans, please recognize the genius within.
As an African I am so grateful that she speaks about an issue that greatly affects us all with such eloquence. I would like to add that on the issue of prudence and the rule of Law that Africa has centuries of leadership and trade to draw from. Western institutions and colonial artifacts are not the only legitimate way forward and it will be interesting to see what innovations we as a civilization can create to solve our unique challenges.
I completely agree. She makes some great points in chapter 3 and it definitely changed my perspective on aid in Africa. I think that in America especially, there is this very "holier than thou" attitude when talking about the aid that we provide for them. It makes us the viewers, of those commercials and promotions, think that we are doing all this good for the country when in reality it seems we are hurting them and their economic system. I am happy that someone who really understands the situation is coming out and saying the truth. I think that many people look at Bono as some sort of God and although he is doing very good things, this information provided by Dombisa Moyo sort of makes us wonder if he is doing this mostly for his own pride or if he is really trying to help the country.
What an amazing discussion! Peter Robinson is so eloquent in asking the right questions and leading to important controversial issues; Dombisa Moyo, on the other hand, does a great job in addressing criticism and highlighting the most important arguments her book makes.
One of my favorite parts is when Dombisa explains the dangers of the humanitarian aid even though it helps to fight malaria and AIDS. African governments’ growing addiction to foreign aid makes them vulnerable and ultimately useless. Why voting for the government if the most vital decisions are coming from outside? And it is easy to guess that America will cut its aid to African countries during any major financial downturn.