Sunday, March 31, 2013

Foreign Aid: A noble act of non-creative destruction

Fiyinfoluwa is a young Nigerian intellectual entrepreneur. His work through the advocacy of the principles of freedom in Africa includes public speaking, opinion commentary and published articles and has appeared in publications across Africa, Europe, and the Americas.
WASHINGTON, DC, March 31, 2013 - “Poor people in poor countries are poor because they have low incomes; they have low incomes because they produce very little value; they produce very little value because they are restricted from doing so by kleptocractic, corrupt, tyrannical, and destructive governments, most of which have been (and I add, still are) recipients of huge sums of foreign aid” – Tom Palmer, Senior Fellow CATO Institute

While the idea of providing monetary and financial incentives to facilitate the economic growth of undeveloped regions seems noble, there are distinct fallacies and unplanned destructive effects from that proposal.
Many Africans regard governmental aid as a means of promoting cultural erosion through enforced programs, as well as an underhanded means of unscrupulous conditional exchange for the sovereign natural resource wealth of recipient countries.

Therefore, the issue of providing aid should not be a governmental or politically manipulative. Instead, aid should be an exclusive private affair through philanthropic efforts

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