Podcast: A Marshall Plan For Africa : Planet Money On today's podcast, Columbia economist and former economic adviser to the Bush administration, Glenn Hubbard, says the way to help Africa is to put foreign aid in the hands of local businesses not the government.
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Podcast: A Marshall Plan For Africa

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Podcast: A Marshall Plan For Africa

Podcast: A Marshall Plan For Africa

Glenn Hubbard says giving more money to mid-size businesses like this Ethiopian shoe company will do more to help poor Africans than our current aid model. Aaron Maasho/AFP/Getty Images hide caption

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Aaron Maasho/AFP/Getty Images

Glenn Hubbard says giving more money to mid-size businesses like this Ethiopian shoe company will do more to help poor Africans than our current aid model.

Aaron Maasho/AFP/Getty Images

Podcast: A Marshall Plan For Africa

  • Download
  • <iframe src="https://www.npr.org/player/embed/114379427/127423336" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">

On today's Planet Money:

The world's governments have given a trillion dollars to developing nations since WWII, and yet in some countries, particularly in Africa, the economic situation is just as bad or worse than it's ever been.

Columbia economist and former economic adviser to the Bush administration, Glenn Hubbard, says it's time to change the way we give aid to Africa. Hubbard, co-author of The Aid Trap: Hard Truths About Ending Poverty, advocates a modern day Marshall Plan, which would give money directly to local business instead of government.

Bonus Reading: Doing business indicators from the IFC.

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