R. Glenn Hubbard & William Duggan: The Aid Trap - Hard Truths About Ending Poverty

Hardcover: 198 pages
Publisher: Columbia Business School Publishing 2009

The provocating front cover of the book shouldn't discourage the reader. The Aid Trap  is a rather mainstream account of the failures of development aid. The authors are on similar lines with Dead Aid author Dambisa Moyo. 

The text itself is not overtly aggressive but raises important questions about the current structure of development aid. Refreshingly the book is written by business people and not by development experts versed in the bureaucratic difficulties of interntional politics - everything seems so simple and straightforward. Hubbard and Duggan argue that aid should, first of all, not stifle ecnomics development, and secondly should promote developing country SMEs and local businesses. The authors claim that a new Marshall Plan, focused on bettering the internal economic environment of developing countries would do much more good than doubling the resources squandered on corrupt regimes. 

Second Opinion: The Enlightened Economist Blog

¶ 11/20/2009 05:37:00 ip.