Philanthropists Bill and Melinda Gates have used the sixth annual letter from their foundation to tackle what they see as development myths undermining efforts to save lives and cut poverty.
The founders of the Bill & Melinda Gates Foundation, take on three such myths: that poor countries are doomed to stay poor, that foreign aid is a big waste of money and that saving lives leads to overpopulation.
In his part of the letter, Bill Gates shows economic improvements that have lifted many countries out of poverty, predicting that “by 2035, there will be almost no poor countries left in the world”.
Countries, he says, will “benefit from innovations like new vaccines, better seeds, and the digital revolution. Their labor forces, buoyed by expanded education, will attract new investments.”
He also laments the misguided notion that foreign aid does not work. For example, he takes issue with the view that aid hinders economic development and keeps countries dependent on outside generosity.
“This argument makes several mistakes. First, it lumps different kinds of aid together. — Full Story at SciDev —