Stay updated with breaking news from William Easterly. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Developed countries can assist development by encouraging good policy and opening their markets to developing country products, but success in development ultimately depends on developingcountries' adopting and implementing policies that promote economicfreedom, good governance, and the rule of law, which are the key toeconomic growth and development with or without foreign assistance.
The international community frequently demands that wealthy nationsincrease their development assistance to poor nations. The UnitedStates will provide additional assistance, but President Bush isalso prudently pursuing a system that measures the effectiveness ofaid.
President Biden has agreed to pay climate reparations to third world countries, many of them run by corrupt dictators who siphon off foreign aid for their own benefit.
Developing countries have long been told to avoid borrowing from central banks (CBs) to finance government spending. Many have even legislated against CB financing of fiscal expenditure.Central b
TheWhiteMan'sBurden:WhytheWest'sEffortstoAidtheRestHaveDoneSoMuchIllandSoLittleGood...