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Past Issue • Oct-Dec 2009

The Aid Trap: Hard Truths about Ending Poverty

After the success of the Marshall Plan in reviving the economies of Western Europe after the Second World War, large-scale aid programmes have been expected to kick-start economic development in poor countries. For 40 years, aid was an important weapon of the Cold War. Allegiances were bought and sold on the basis of aid packages. After the collapse of the Berlin Wall, the aid industry changed track, employing morality to market itself. Books like The End of Poverty by Jeffrey Sachs, and the bully pulpits of rock stars hammered the message home.

ABOUT THE AUTHORS

  • Reuben-Abraham

    Reuben Abraham

    Founding Executive Director of the Centre for Emerging Markets Solutions (CEMS) at the Indian School of Business (ISB) and non-resident scholar at the Urbanization Project at New York University’s Stern School of Business.
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