Between 1970 and 1998 when well-meaning foreign aid was at its peak, the poverty rate in Africa rose from 11 percent to 66 percent. Why? Because foreign aid ended up in the hands of corrupt dictators—who are estimated to steal around $10 billion (about half Africa's foreign aid receipts) every year. Argue that what Africans need is "shock therapy," not liberal NGO workers swanning round the country in Land Cruisers. Free trade, property rights, and open markets will do far more than cash handouts. Say you got all this from a book called Dead Aid by a black African Harvard masters graduate, Dambisa Moyo.
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