Saturday, February 21, 2009
Why is Africa such an economic basket case? Is there hope for the Dark Continent? Are Hollywood celebrities and foreign aid destroying Africa? For a non conventional answer listen to Dambisa Moyo, an economist with degrees from all the right places and until recently a Mistress of the Universe for Goldman Sachs (no she doesn't resemble Sherman McCoy or Tom Hanks who was physically miscast as him in the movie. The movie still worked in its own right.) Dambisa Moyo says no aid, no celebraties, and if you want to finance jobs, cut out the middlemen and women through microfinance like kiva.org.
"I wish we questioned the aid model as much as we are questioning the capitalism model. Sometimes the most generous thing you can do is just say no."