Europe’s Ineffective Development Assistance

A new study by Professor Martin Paldam of Århus University states that the total annual Danish contribution of 1.8 billion euros (2.8 billion US dollars) to developing nations has no effect on economic growth nor helps to promote democracy. My guess is that this goes for most of Europe’s lavish development assistance policies. What developing nations need more than financial aid is a global free-trade agreement that eliminates harmful tariffs and force the United States and the European Union to open their markets to outside competitors.