If one took all of the foreign aid that has been given to Zambia since 1960 and invested it in the broad stock and bond market rather than flushing it down the corrupt and bureaucratic foreign aid toilet, Zambians would now enjoy an income per capita of $20,000 from the investment alone … instead of the $1,500 they “enjoy” today. That is from Matt Ridley’s wonderful Rational Optimist.
Fun Facts to Know and Tell: Foreign Aid Edition
Jul 13th, 2010 by wintercow20
[…] Why Results Matter Posted on July 13, 2010 by Aaron From Michael Rizzo: […]
Good point!
The same argument applies to Social Security.
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