Foreign Aid?

Jagdish Bhagwati, of Columbia University, reviews the book Banned Aid by Dambisa Moyo in the recent issue of Foreign Affairs (HT to Marginal Revolution). Moyo is among the group of economists who believes that current foreign aid programs (at least those sponsored by the government) may do more harm than good because they frequently benefit those at the top of society in the targetted country and never really reach those for whom they are intended.

I had a chance to hear Moyo speak at the University of Richmond not long ago. She is an eloquent and persuasive speaker. While I have not yet read the book, I am adding it to my carousel at left on the strength the speech she made and this review.

If you've read it, I would welcome your comments.