In discussions of how best to solve global poverty, helping the 3 billion people living on less than $2.50 per day, development economists tend to fall into one of two camps.
One camp claims that wealthy nations contribute too few dollars to combat poverty. The other camp counters that money doesn’t guarantee poverty alleviation, and points to the $2.3 trillion spent in foreign aid over the past 50 years as evidence that throwing money at the problem won’t solve it. Despite their differences, both groups agree that some types of development interventions work better than others. (more…)