Dead Aid (2009)
This provocative book, written by a Zambian-born, Harvard-trained economist, has attracted much attention for its claim that ‘aid to poor countries does not work’. Moyo argues that in the modern, globalized economy, simply handing out more money - however well intentioned - will not help the poorest nations to achieve sustainable long-term growth. This book analyses the history of economic development over the last fifty years and claims that aid crowds out financial and social capital and feeds corruption. The better alternative to aid, suggests Moyo, is improved access to capital and markets which, combined with the right policies, can enable even the poorest nations to prosper.