Dambisa Moyo: Stop Sending Aid to Africa
Complete video at: http://fora.tv/2009/06/05/Unco....mmon_Knowledge_Dambi
Economist and author Dambisa Moyo responds to her critics, explaining the long-term impact that charitable HIV/AIDS programs will have on building sustainable economies in Africa. She theorizes that such financial contributions allow African governments to be dependent on other world powers.
During the past fifty years, more than $1 trillion in development-related aid has been transferred from rich countries to Africa. Dambisa Moyo asserts, however, that this assistance has made African people no better off. "Africa's real per capita income today is lower than in the 1970s, with over half of the 700 million Africans living on less than a dollar a day."
Eschewing the "glamour aid" of celebrities such as Bob Geldof and Bono, she argues that the key to transforming African countries is to make them less reliant on foreign aid and compel them to "enforce rules of prudence and not live beyond their means." - Hoover Institute
Dambisa Moyo was born and raised in Zambia, Southern Africa. She completed a PhD in Economics at Oxford University and holds a Master's from Harvard University. She completed a Bachelor's degree in Chemistry and MBA in Finance at the American University in Washington D.C.
Moyo is a Patron for Absolute Return for Kids (ARK), a hedge fund supported children's charity. She serves on the Boards of the Lundin for Africa Foundation and Room to Read, an educational charity. Moyo argues for more innovative ways for Africa to finance development including trade with China, accessing the capital markets, and microfinance.
Peter M. Robinson is a research fellow at the Hoover Institution, where he writes about business and politics, edits Hoover's quarterly journal, the Hoover Digest, and hosts Hoover's television program, Uncommon Knowledge.