Dambisa Moyo
Dambisa Moyo
Dambisa Moyo2 February 1969) is a Zambian-born international economist and author who analyzes the macroeconomy and global affairs. With post-graduate degrees in business, public administration, and economics from American University, Harvard, and Oxford, Moyo currently serves on the boards of Barclays Bank, the financial services group, SABMiller, the global brewer, and Barrick Gold, the global miner. She worked for two years at the World Bank and eight years at Goldman Sachs before becoming an author and international public speaker. She...
NationalityZambian
ProfessionEconomist
Date of Birth2 February 1969
CountryZambia
countries further hit nowhere
Too many African countries have already hit rock-bottom - ungoverned, poverty-stricken, and lagging further and further behind the rest of the world each day; there is nowhere further to go down.
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The World Bank can only survive if it's spending money.
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Thanks to aid, a distressing number of African leaders care little about what their citizens want or need - after all it's the reverse of the Boston tea-party - no representation without taxation.
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There's not a single country that actually approaches economics in a pure, free market, capitalist way. I like the free market - but it very much exists only in textbooks. If I had a choice, and we could live in a very pure world, I would be a supporter of the free markets.
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I was born and raised in Zambia in 1969. At the time of my birth, blacks were not issued birth certificates, and that law only changed in 1973.
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I was initially very interested in public policy, but then after my masters at Harvard, I felt that it was important to get a better handle on the economics of it as well. I did my Ph.D. in macroeconomics, and my thesis - 'Why Is It That Some Countries Save And Others Not?' - was on savings.
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Many Africans succumb to the idea that they can't do things because of what society says. Images of Africa are negative - war, corruption, poverty. We need to be proud of our culture.
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Under the all-encompassing aid system, too many places in Africa continue to flounder under inept, corrupt and despotic regimes who spend their time courting and catering to the demands of the army of aid organizations.
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I am fortunate: my parents told me the world was my oyster, when they could have said I wouldn't make it for a lot of reasons - rural, girl, small African country. So, no regrets.
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I would say issues around human rights - either you're going to take a hard stance, or you're not. You can't borrow money from China the way the U.S. has done and then turn around and say, 'But you've got a human-rights problem.' You can't be half pregnant.
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I have dedicated many years to economic study, up to the Ph.D. level, to analyze and understand the inherent weaknesses of aid and why aid policies have consistently failed to deliver on economic growth and poverty alleviation.
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There are tons of examples of U.K. and European mistakes. A classic one is pensions. That's obviously not an America-specific thing. The British and European economies are suffering under the weight of what is to come. The next great Ponzi scheme after Madoff is probably pensions.
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China is attempting the death-defying feat, which no one has attempted in the history of the world, which is to move a billion people out of poverty. When I speak to Chinese policy-makers, the thing that annoys them the most about Western policy-makers is that they're not given any credit for anything.
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We've reached a very low-level equilibrium where it's not clear whose interest it is in to develop Africa... It's not in the interest of those in the aid industry to develop Africa because then there'd be no more industry and 500,000 people would lose their jobs. The only people whose interest it is in is Africans, but they have no voice.