The Shackled Continent: Power, Corruption, And ... -

The Shackled Continent: Power, Corruption, and African Lives

: The book is famously skeptical of foreign aid, noting that billions of dollars have had little perceptible effect on the poor. Guest argues that aid often siphons off to corrupt bureaucrats or allows governments to delay necessary economic reforms. The Shackled Continent: Power, Corruption, and ...

: He points to countries like Botswana , which utilized its mineral wealth and sound economic policies to achieve significant growth, contrasting it with the socialist-led stagnation of its neighbor, Zambia. The Shackled Continent: Power, Corruption, and African Lives

: Drawing on the work of Hernando de Soto, Guest argues that the lack of secure property rights is a massive hurdle. Without formal titles to their land and homes, millions of Africans hold "dead capital" that cannot be used as collateral for loans to start or grow businesses. : Drawing on the work of Hernando de