PRIVATE AID vs GOV'T GOONS - IAIN MURRAY
The Freeman: Sending Money Home: Technology or Bureaucracy?
Remittances are helping poor people globally, but regulators loom. In 2011, total private flows of aid totaled $680 billion—almost five times the $138 billion official figure. As I noted in 2005, “the future of aid to developing countries is private.”
This increase in private aid is great news for all concerned. Except, perhaps, for bureaucrats, who are loath to let good deeds go unpunished. World Bank and United Nations bean counters are denouncing remittance transfer fees as exploitative. > Read more
> Interview Iain Murray