CBC Radio’s “Ideas” series, which is available via iTunes and which I recommend highly, this week presented a debate on whether foreign aid to Africa does more harm than good. As I admire self-awareness above most other traits, Stephen Lewis delighted me:
“Africa’s share of FDI* is now one percent, and it’s not for lack of trying. The countries are too small, the regional groupings ineffectual, the sense of risk overwhelming. Dambisa Moyo** says trade is the answer. Who can disagree? But the DOHA trade round is in collapse, and there’s not the slightest sign that either the United States or Europe is prepared to relinquish agricultural subsidies in order to give African agriculture a chance to export. These are grand designs, but they don’t work in practice. I’m a socialist! I’m an expert in grand designs that don’t work in practice!”
* Foreign direct investment
* * The debate opponent