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The Aid Trap: Hard Truths About Ending Poverty

✍ Scribed by R. Glenn Hubbard; William Duggan

Publisher
Columbia University Press
Year
2009
Tongue
English
Leaves
216
Category
Library
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✦ Synopsis

Over the past twenty years more citizens in China and India have raised themselves out of poverty than anywhere else at any time in history. They accomplished this through the local business sectorΒ—the leading source of prosperity for all rich countries. In most of Africa and other poor regions the business sector is weak, but foreign aid continues to fund government and NGOs. Switching aid to the local business sector in order to cultivate a middle class is the oldest, surest, and only way to eliminate poverty in poor countries.

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