Looking for an interesting piece of data (2)
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Dear Colleagues
Yes... an interesting number.
But what is the basis for the 0.7 percent of GDP "contribution"
to development by NORTH countries? Surely the base point is 0%
and anything above that is positive.
The "welfare" model for funding development seems to me to be a
very unsatisfactory way of proceeding. Rather the way to go for-
ward is one where the "value" to the local beneficiaries and the
local community is positive, and the value to the global commu-
nity is positive, in which case the global community it justi-
fied in funding the works up to the value derived by the global
community. A mindset along these lines will result in a "value
adding" global economy, and a value adding local economy.
Welfare in both the local and the global economy is usually
value destruction, and makes the world poorer. And sadly, a lot
of corporate foreign direct investment also is value destruction
for the host country, though possibly of great value to foreign
stockholders.
The number I would like to see is how much development expendi-
ture has resulted in value adding, and how much has resulted in
value destruction. The quality of development expenditure needs
to get looked at as much as the quantity of development expendi-
ture.
Sincerely,
Peter Burgess
in New York
Tel: +1-212-772 6918
mailto:peterb@afrifund.com
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