Neo-Colonialism that does not alleviate poverty, but in fact perpetuates it
Foreign development aid is a self-perpetuating, growing institution and has actually harmed the third word. Aid fosters dependency, encourages corruption, and in turn exacerbates poverty. Top-down aid fails to create jobs or other lasting improvements, and likewise most bottom-up aid functions on the condescending presumption that target communities cannot participate unassisted in the open market.
This position calls for a sea of change in the mindset of aid recipients, who have been conditioned to believe that foreign aid is the solution to their plight. They have been systematically incentivized against their own initiative.
Big money, top-down aid is more culpable for increased disenfranchisement in the developing world than the bottom-up variety, because its magnitude of misguided funds has more solidly entrenched corrupt leaders.
“A largely liberation approach may have worked for the North America and western Europe, but these same countries arguably caused many of the developing world problem through imperialism.â€
Bottom-up aid in which “searchers†prepare locals for full participation in the free market is non-ideal, but necessarily harmful. The answer lies in pro-market measures: microfinance, foreign direct investment, trade, floating bonds-systems that encourage innovation and foster self-reliance.
The Africa Progress Panel, in its annual report chaired by former United Nations Secretary-General Kofi Annan, highlighted A Country like Sierra Leone in West Africa, that is ready for a dramatic overhaul of its economic system as the new President shows determination to bring about a refreshing drive as to how the country is governed, by arresting economic mismanagement; a threatening graft culture; and making attempts to move the country from one dependent on aid for its survival, to a country that can sustain itself.
Abu Moses Kamara (Blaise)Stay with Sierra Express Media, for your trusted place in news!
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