You Can’t Develop What You Don’t Know: The Realities and Limitations of Foreign Aid Missions

Kathryn Waldron () and Christopher J. Coyne ()
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Kathryn Waldron: George Mason University
Christopher J. Coyne: George Mason University

A chapter in Moonshots and the New Industrial Policy, 2024, pp 191-212 from Springer

Abstract: Abstract Mariana Mazzucato argues that capitalism needs to be rebuilt around private-public partnered “missions.” To facilitate these missions, Mazzucato provides seven pillars to serve as guidelines. Using Mazzucato’s pillars, we critically review US government efforts to develop the local economy and establish new political institutions through foreign aid. We analyze the successfulness of these “missions” by assessing government officials’ ability to overcome the “knowledge problem” and “political economy problems.” We conclude that Mazzucato’s pillars are unlikely to be satisfied due to these dual problems.

Keywords: Mazzucato; Foreign aid; Intervention; Knowledge problem; Political economy problem; Missions; B53; F54; F51 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:inschp:978-3-031-49196-2_11

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DOI: 10.1007/978-3-031-49196-2_11

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