3. Are we talking about aid? Don't we already spend enough on foreign aid?
No, we are not talking about aid. Regarding development aid, the past 20 years have produced very uneven results, leading to an increasing frustration in the global development community. Despite trillions of dollars in aid, many countries remain mired in poverty.
Top-down aid delivered to governments has often been siphoned off by corrupt or inefficient administration. Bottom-up aid, often delivered by non- governmental organizations, has crowded out market forces by providing free but unsustainable products and services, which not only disrupt entrepreneurship and wealth creation but also create dependency. By operating through government bureaucracies, foreign aid establishment often impedes the growth of a robust business sector, which lies at the heart of wealth creation.