Friday, October 30, 2015
Why trying to help poor countries might actually hurt them - The Washington Post
That's because some Nobel Prize winners get treated differently than others, especially when the subject is politically incorrect...
The Washington Post's Ana Swanson reported on this:
"Deaton, an economist at Princeton University who studied poverty in India and South Africa and spent decades working at the World Bank, won his prize for studying how the poor decide to save or spend money. But his ideas about foreign aid are particularly provocative. Deaton argues that, by trying to help poor people in developing countries, the rich world may actually be corrupting those nations' governments and slowing their growth. According to Deaton, and the economists who agree with him, much of the $135 billion that the world’s most developed countries spent on official aid in 2014 may not have ended up helping the poor."