Lords Of Poverty: The Power, Prestige, And Corruption Of The International Aid Business
This is a rousing condemnation of the national and multilateral aid programs of the past forty years. But in focusing on the alleged misdeeds of the bureaucracy of development aid, rather than evaluating the effectiveness of the economic assistance programs, the journalist author lets pass an opportunity to write a more significant work. The allegations regarding the expense-account high life of officials at the U.N., the World Bank and elsewhere are deeply disturbing if true. Yet the reader's outrage is tempered by the author's failure to outline a plan for reform of the system and by his skimpy analysis of how to meet the continuing urgent needs of the less-developed countries.
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In The White Man's Burden, William Easterly offers important insights about the pitfalls of foreign aid. Unfortunately, his overblown attack on global "do-gooders" obscures the real point: that aid can work, but only if done right.
The U.S.-led effort to revive the peso staved off a Great Depression in Mexico. The Mexican economy is turning the corner and paying off its debt to the United States. Mexico was not broke last year; it faced a liquidity crisis. Clinton's action ensured that economic reform in Mexico--and other developing nations--continues.
Past attempts to combat global poverty have failed for a simple reason: they have not attacked the problem at its roots. It is therefore time for a new approach, a global corporate alliance that brings business know-how and the profit motive into play.

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