Aid to Africa will not Lead Self-sustained Growth

Thompson Ayodele writes "...The resources needed for development in Africa can be generated within the continent. From 1970 to 2000 Africa received about U$400 billion in aid. Africa has got enough financial help from overseas. Africa’s lack of development clearly does not stem from lack of funds. More foreign aid will not eliminate poverty and launch African countries to productivity and growth...development in the continent is possible through change which must come from within Africa. If anyone really wants to help poor Africans out of the vicious circle of poverty he must promote free commerce, protect property rights, encourage openness to trade, allow markets to flourish and reduce government intervention in the economy..."He"...berates the proponents of ‘trade justice’ such as the Make Poverty History coalition who push for more barriers to trade. This would, according to Ayodele, further harm and impoverish the poor and vulnerable. “If countries should relax barriers to trade, it would kick-start entrepreneurial activities. People would discover where goods are most needed and innovate how best to produce those goods. The competition for supply would spur improvements in local production, investment and technology transfer with consequent benefits for
everyone, particularly the poor..."
Via Institute of Public Policy Analysis