Dambisa Moyo
Dambisa Moyo is an economist and the author of Dead Aid: Why Aid is Not Working and How There is a Better Way For Africa, published in the spring of 2009. The book offers proposals for developing countries to finance development, instead of relying on foreign aid. It became a New York Times bestseller upon its release in the United States of America and remains a bestseller amongst Political and Economic books. Her book is published internationally by Penguin Books and in the United States by Farrar, Straus & Giroux.
In May 2009, TIME Magazine named Moyo one of the world’s 100 most influential people and Oprah Winfrey featured Moyo in her September 2009 power list of remarkable visionaries.
Moyo was born and raised in Lusaka, Zambia. She holds a Doctorate in Economics from Oxford University and a Masters from Harvard University’s Kennedy School of Government. She also has an MBA in Finance and Bachelors degree in Chemistry from American University in Washington D.C. She worked for the World Bank for 2 years as a Consultant (from 1993-1995) and at Goldman Sachs for 8 years (from 2001 to 2008), where she worked in the debt capital markets and as an economist in the global macroeconomics team.
DEAD AID
Why Aid Is Not Working and How There Is a Better Way for Africa
In the past fifty years, more than $1 trillion in development-related aid has been transferred from rich countries to Africa. Has this assistance improved the lives of Africans? No. In fact, across the continent, the recipients of this aid are not better off as a result of it, but worse—much worse.
In Dead Aid, Dambisa Moyo describes the state of postwar development policy in Africa today and unflinchingly confronts one of the greatest myths of our time: that billions of dollars in aid sent from wealthy countries to developing African nations has helped to reduce poverty and increase growth.
In fact, poverty levels continue to escalate and growth rates have steadily declined—and millions continue to suffer. Provocatively drawing a sharp contrast between African countries that have rejected the aid route and prospered and others that have become aid-dependent and seen poverty increase, Moyo illuminates the way in which overreliance on aid has trapped developing nations in a vicious circle of aid dependency, corruption, market distortion, and further poverty, leaving them with nothing but the “need” for more aid.
Debunking the current model of international aid promoted by both Hollywood celebrities and policy makers, Moyo offers a bold new road map for financing development of the world’s poorest countries that guarantees economic growth and a significant decline in poverty—without reliance on foreign aid or aid-related assistance.
Dead Aid is an unsettling yet optimistic work, a powerful challenge to the assumptions and arguments that support a profoundly misguided development policy in Africa. And it is a clarion call to a new, more hopeful vision of how to address the desperate poverty that plagues millions.
My Commentary:
I can honestly say like many young Africans with a desire to see the continent elevate to a better level, hearing about the book Dead Aid really got me excited and I knew i had to go out and buy a copy and really take time to read for myself what the book is really all about. After i received my copy of the book, i did not waste anytime and I had my hands firm on the book for severals days reading it. I must admit I had never heard much of the author Dambisa Moyo prior to the surge in media exposure that surrounded the release of the book. Firstly, I would like to mention that I was not disappointed.
The book begins with a look at the world of aid with chapters including a brief history of aid. It was enlightening to learn about the different types of aid and the history behind the aid model that has existed for decades. Some of the most interesting parts of the book are on how Dambisa highlights how the current aid model has failed to facilitate development within the African continent and how the model hinders job creation. I like the fact that throughout the book Dead Aid, Dambisa Moyo makes use of good and realistic examples to show the role aid has played in creating government dependancy on foreign donations throughout the continent and often at the cost of private sector development and even how in many cases aid has been used to fund civil wars and the role it plays in corruption and poor governance.
The delivery of her message is intelligent and impressive throughout the book. The message I received from reading the book was that of advocating for a different approach to aid and its delivery and the fact that non-emergency or humanitarian aid should be reduced and gradually stopped. I connected with her views and I believe many share the same sentiments, which are mainly comprised of the desire to see Africa emerge as a competing force on the global market, a self-sustainable and aid free continent. There is great foresight in the way she recommends alternative ways of stimulating development like trade, micro-finance, direct foreign investment and so forth. So apart from learning from the failures of the current aid model. There is a lot that readers can take away from the book in terms of what needs to be done to get Africa to a place that many Africans dream to see the continent rise to. All the suggestions seem very practical despite being difficult to implement, due to the many years of narrowed perceptions and structures of ineffective aid models that have existed for so long. Both donors and recipients of aid need to shift perceptions and there needs to be a restructure to the aid model to make progress happen. If the leaders and masses of Africa, start implimenting some of these great ideas and working towards a better Africa (one that is not dependent on aid) then maybe one day our children and us will enjoy much more fulfilling and prosperous lives within our great continent.
Posted By: Heath Muchena
