Want to create an interactive transcript for this episode?
Podcast: Debunking Economics - the podcast
Episode: Are we doing foreign aid wrong?
Description: The UK has cut its foreign aid budget to help pay for the domestic costs of COVId-19. Is that a bit of a callous move? That’s a rhetorical question, but there’s a more meaningful question on today’s podcast – is there a better way of managing foreign aid. Steve Keen has worked with agencies dealing with foreign aid, and discusses the failings of the process with Phil Dobbie. Corruption is one issue with the recipient nations, whilst the donor countries often choose destinations that look after their own vested interests. But John Maynard Keynes had an idea that would hav...