Peter Bauer and the Failure of Foreign Aid
Shleifer, Andrei
Cato Journal, Fall 2009, v29, #3, pp379-391
"Peter Bauer was one of the greatest development economists in history. He was an advocate of property rights protection and free trade before these ideas became commonplace. Bauer's writings are remarkable for their deep humanity and commitment to the welfare of the people in the developing world, but without the fake sanctimony that characterizes much of the modern rhetoric. Bauer is perhaps best known as a persistent and articulate critic of foreign aid. The failure of foreign aid is all the more remarkable once people remember that, in the last quarter century, the world has experienced an enormous spurt of economic growth and social development. As this piece is being written, foreign aid is expanding rapidly. The foreign aid establishment has won the battle for the hearts, minds, and wallets of Western taxpayers. Peter Bauer's prescient warnings and 50 years of evidence notwithstanding, the West is about to spend another trillion dollars on foreign aid in the next couple of decades."
Andrei Shleifer is a Russian American economist. In 1999, Andrei Shleifer was awarded the John Bates Clark Medal, awarded every two years to the most promising US economist under 40.
Go to the article at:
http://www.cato.org/pubs/journal/cj29n3/cj29n3-1.pdf
H3/01-10 posted January 4, 2010
|
