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

Hardback

By (author) Dambisa F Moyo, Foreword by Niall Ferguson

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  • Publisher: Farrar Straus Giroux
  • Format: Hardback | 188 pages
  • Dimensions: 140mm x 211mm x 23mm | 340g
  • Publication date: 17 March 2009
  • Publication City/Country: New York, NY
  • ISBN 10: 0374139563
  • ISBN 13: 9780374139568
  • Sales rank: 231,386

Product description

In the past fifty years, more 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 more 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, more hopeful vision of how to address the desperate poverty that plagues millions.

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Author information

Dambisa Moyo is the author of "How the West Was Lost." Born and raised in Lusaka, Zambia, Moyo completed a Ph.D. in economics at Oxford University and holds a master's from Harvard University's John F. Kennedy School of Government. She worked for the World Bank as a consultant, and also worked at Goldman Sachs for eight years. In 2009, "Time" magazine named her one of the "100 most influential people in the world." Her writing frequently appears in publications including the "Financial Times," "The Economist," and "The Wall Street Journal."

Review quote

Praise for "Dead Aid" “Moyo is right to raise her voice, and she should be heard if African nations and other poor countries are to move in the right direction.” —Jagdish Bhagwati, "Foreign Affairs " “Moyo presents a refreshing view.” —Lisa Miller, "Newsweek "“A tightly argued brief . . . Vivid.” —Matthew Rees, "The Wall Street Journal "“An incendiary new book . . . Here is a refreshing voice . . . What makes "Dead Aid" so powerful is that it’s a double-barrelled shotgun of a book. With the first barrel, Moyo demolishes all the most cherished myths about aid being a good thing. But with the second, crucially, she goes on to explain what the West could be doing instead.” —Christopher Hart, "The Daily Mail "“Dambisa Moyo is to aid what Ayaan Hirsi Ali is to Islam. Here is an African woman, articulate, smart, glamorous, delivering a message of brazen political incorrectness: cut ai