Tuesday, February 11, 2025

The best reason to hate international aid

It's not just that so much of it is wasted on the bizarre priorities of woke federal bureaucrats; it's that it creates the worst possible dependency in the recipients, and that problem is unfixable. - Alex Berenson
You may have heard of what economists call the “resource curse.” 
  • If you haven’t: the resource curse is a paradoxical problem for poor countries that are rich in minerals or oil. 
Despite their seeming bounty, those countries often wind up behind their neighbors and beset with political strife.
Why?
  • The quickest way for smart or powerful people in asset-rich countries to get rich is by getting their share. 
  • As leaders or bureaucrats, they can do so by demanding bribes from the companies extracting the oil or gold...

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