Nobel Prizewinning Expert On World Poverty Says Foreign Aid Is A Waste Of Money

david — Wed, 14 Oct 2015 07:15:29 +0000

Prof Deaton is the 2015 winner of the Nobel Prize in Economics

“Mr Deaton’s most recent book, “The Great Escape” was published in 2013. In it he argues that foreign aid from western government’s has done more harm than good to developing nations, saying that it has helped prop up corrupt governments and rarely reaches the poor.

“The idea that global poverty could be eliminated if only rich people or rich countries were to give more money to poor people or to poor countries, …however appealing, is wrong”, he wrote in 2013.”

As someone once said, government’s using taxpayers money for foreign aid = taking money from poor people in the first world to give to rich people in the third world. A lot of us have been saying this for years but were labelled hard hearted, fascist etc. The reality is that the whole purpose of “foreign aid” is to make the middle class liberal left chattering classes feel good about themselves via the usual route – using other people’s money…..

So, Mr Cameron, how about spending that £11.6b on something a little more closer to home…..infrastructure might be good for starters……

Deaton – The Aged P

Nobel Prizewinning Expert On World Poverty Says Foreign Aid Is A Waste Of Money