The Context of Foreign Aid: Modern Imperialism

Lynn Richards and Lynn Richards

Review of Radical Political Economics, 1977, vol. 9, issue 4, 43-75

Abstract: Foreign aid is seldom seen by bourgeois economics for what it actually is — one method by which capital and capitalism are internationalized. Bourgeois economists argue over aid's effectiveness in promoting development, while in business and political circles its defenders make the only really telling arguments; that markets and resources are secured, and a climate conducive to world wide private investment is created and strengthened. Those arguments fit quite well into the Marxist concept of imperialism, an analysis of which is in cluded here, while a study of U.S. aid flows from 1958 to 1974 confirms such a hypothesis.

Date: 1977
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Persistent link: https://EconPapers.repec.org/RePEc:sae:reorpe:v:9:y:1977:i:4:p:43-75

DOI: 10.1177/048661347700900404

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