Better Aid, not 'Dead Aid,' for Africa

Dambisa Moyo's new book, "Dead Aid," is a prime example of an old idea wrapped up in new packaging. As a Harvard-educated child of Africa (Zambia), with stints at Goldman Sachs and the World Bank, Moyo makes for an appealing messenger. However, the idea on which her book is based -- that foreign assistance for Africa hasn't worked -- is hardly an original one to most aid practitioners.

But instead of offering ideas to improve aid Moyo takes the opposite approach, asserting that aid is altogether bad for Africa and should be gradually replaced with foreign investment. Moyo's solutions may on the surface seem reasonable, but her argument is simplistic, and even dangerous. ...