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A Flawed System
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Posted 5 years ago
The Problems With Development Aid
âDevelopment aid: what is it good for? Well, according to much research the answer may well be absolutely nothing. In fact, it may well be worse than nothing. When judged against its aim of âinstigating economic development and alleviating povertyâ, its record is so dismal it looks as though aid actually hinders the achievement of its own stated goals. And the curious thing is this seems to be something of an open secret. Even to an untrained eye the big numbers pertaining to development aid donât look right. Take Africa, for example. Over $1 trillion dollars has been pumped into the continent in the last 50 years, and how much has it benefited? How many African countries are actually in a better condition now than they were before receiving aid?
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