The Continuing Failure of Foreign Aid

You really should take the time to read Jim Bovard‘s piece from January 31, 1986 called The Continuing Failure of Foreign Aid

Being after WWII Bovard’s take is that,

Our foreign aid has made life more pleasant and entertaining for government bureaucrats in poor countries. However, it has done little to promote the production of wealth, or to breed political responsibility, or to encourage people to help themselves. American foreign aid usually only strengthens oppressive regimes, allows governments to avoid correcting their mistakes, and bails out bankrupt state-owned enterprises around the world.

Regardless of our future good intentions, American foreign aid programs will still be controlled by politicians anxious to buy goodwill and administered by bureaucrats anxious to meet their quota of loans, and they will still be received by foreign governments careless of the use of free gifts. As long as the same political, bureaucratic, and economic incentives govern international welfare, the same mistakes will be repeated.”

Read the rest of Bovard’s important work here.

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