Foreign Aid Is Good

Topics: Poverty, Wealth, World Bank Pages: 3 (831 words) Published: December 25, 2010
Foreign aid is economic, technical, or military aid given by one nation to another for purposes of relief and rehabilitation, for economic stabilization, or for mutual defence. Foreign aid is usually granted to developing countries in the third world therefore it is an investment in the future of both countries, but is it an investment that will pay off or is it a loss resources? According to Ranking The Rich “foreign aid is pragmatic and a globalizing world, rich countries cannot insulate themselves from insecurity” thus, our world contains ““global cities”, nations tend to be more closely related to each other than they are to many cities in their home countries” thus, what happens globally also has an impact locally because we all belong to the global community and if an occurrence would happen wealthy countries need to contribute because it has an impact on their own people as well. Foreign aid should be implemented by wealthy countries to help relieve developing countries.

An extension of economic assistance could lead to a transfer of resources.

“It benefits the receiving country in two ways. First it enables the people of the recipient nation to consume more than they otherwise could, or to devote more resources to capital investment, or to rearmament, or to any other major goal which claims a part of the output of their economy. Second, a subsidy adds to the foreign exchange resources of the receiving country.

This argument states that the economies of wealthy nations were (and are) being built in part on the impoverishment of third-world nations. This happened over time, through the exploitation of labor and other countries natural resources. Thus, the world's wealthiest nations are responsible for the impoverishment of many countries and we have a moral duty to correct our wrongdoing. This argument can also be explained in terms of the automobile accident analogy. This analogy draws a distinction between our imperative to help...
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