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Video of Dambisa Moyo on The Colbert Report

US Aid to Africa Bad for Africa?

It's amazing the things you can learn from a comedy show. Last night, Stephen Colbert invited Dambisa Moyo, the author of Dead Aid, on his show to discuss US aid to Africa. She says the type of assistance that celebrities lobby for and rich countries provide isn't always good for the continent.

In the last 60 years, wealthy countries have given Africa more than $1 trillion in aid, but poverty levels continue to increase in countries that have become dependent on foreign support.

Moyo explained to Stephen that government aid "very often is used for corruption. It causes inflation. It causes a debt burden, which is unsustainable." She says the developed world should support business leaders and entrepreneurs in Africa through direct investment. Moyo sounds like she has some good ideas — let's hope policy makers at least pick up her book.

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