The Aid Trap
The Aid Trap: Hard Truths About Ending Poverty
by R. Glenn Hubbard and William Duggan
–Reviewed by Angilee Shah
In 2006, Warren Buffet made a $31 billion gift to the Gates Foundation. He explained the generous donation this way: “A market system has not worked in terms of poor people.”
R. Glenn Hubbard and William Duggan, the dean and a senior lecturer at Columbia Business School, turn Buffet’s assertion on its head in The Aid Trap. Free markets, they say, are not the cause of poverty. Indeed, the market system and strong private …
