In 2017, the US spent more than $50 billion on foreign aid. Why then are so many of the countries receiving this aid still living in dire poverty with starvation as a constant threat? Why doesn’t this aid foster economic growth and development in those regions? Because just throwing money at a problem, foreign aid in this case, simply doesn’t work.
So then, what are the prerequisites for economic development? What will improve standards of living? These are some of the issues addressed in a new course, Development Economics: An Austrian Perspective. G.P. Manish will explain the roles time preference and capital accumulation play in economic development as well as the importance of a fully integrated structure of production. He wraps up the course with a case study of economic development — and economic disaster — in India since gaining its independence from Great Britain in 1947.
This course is for independent study, free, and available to be taken anytime. The Mises Institute appreciates your support for continuing the creation of more courses in the Mises Academy.
