The Aid Trap: Hard Truths About Ending Poverty

R. Glenn Hubbard and William Duggan

eISBN: 9780231519502

2009 (216 pages )

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Download Complete Book Download
(pages 1-216)
Complete Book Download (pages 1-216)

Download Table of Contents
(pages 7-8)
Table of Contents (pages 7-8)

Download Preface: The Software of Prosperity
(pages 9-14)
Preface: The Software of Prosperity (pages 9-14)

Download 1. Introduction: The Charity Trap
(pages 15-24)
1. Introduction: The Charity Trap (pages 15-24)

Download 2. Business First: The Roots of Prosperity in the Modern World
(pages 25-62)
2. Business First: The Roots of Prosperity in the Modern World (pages 25-62)

Download 3. Business Last: The Roots of Failure in Poverty Aid
(pages 63-102)
3. Business Last: The Roots of Failure in Poverty Aid (pages 63-102)

Download 4. Strong Medicine: The Marshall Plan as a Business Model
(pages 103-126)
4. Strong Medicine: The Marshall Plan as a Business Model (pages 103-126)

Download 5. Chase the Devil: Details for a Marshall Model
(pages 127-166)
5. Chase the Devil: Details for a Marshall Model (pages 127-166)

Download 6. Conclusion: Make It Your Business
(pages 167-180)
6. Conclusion: Make It Your Business (pages 167-180)

Download Appendix I: A Note on Related Research
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Appendix I: A Note on Related Research (pages 181-188)

Download Appendix II: A Marshall Plan Budget
(pages 189-192)
Appendix II: A Marshall Plan Budget (pages 189-192)

Download Bibliography
(pages 193-202)
Bibliography (pages 193-202)

Download Index
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Index (pages 203-216)

The Aid Trap: Hard Truths About Ending Poverty

Over the past twenty years more citizens in China and India have raised themselves out of poverty than anywhere else at any time in history. They accomplished this through the local business sector—the leading source of prosperity for all rich countries. In most of Africa and other poor regions the business sector is weak, but foreign aid continues to fund government and NGOs. Switching aid to the local business sector in order to cultivate a middle class is the oldest, surest, and only way to eliminate poverty in poor countries.

A bold fusion of ethics and smart business, The Aid Trap shows how the same energy, goodwill, and money that we devote to charity can help local business thrive. R. Glenn Hubbard and William Duggan, two leading scholars in business and finance, demonstrate that by diverting a major share of charitable aid into the local business sector of poor countries, citizens can take the lead in the growth of their own economies. Although the aid system supports noble goals, a local well-digging company cannot compete with a foreign charity that digs wells for free. By investing in that local company a sustainable system of development can take root.

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