Saturday, February 21, 2009

Proposition for America's Foreign Aid Policy

America should stop pouring billions into bureaucracies to buy short-term alliances and focus its efforts on bottom-up entrepreneurship, according to Iqbal Z. Quadir, founder and director of MIT’s Legatum Center for Development and Entrepreneurship. Quadir's proposition sets forth an approach for President Obama to adopt, declaring that America should: a) remove trade barriers on exports from the poorest countries, b) bolster small entrepreneurs with seed money in the range of $25,000, c) give $1 million to match any grass-roots group capable of raising $1 million to establish a health clinic.