Spend $150 Billion Per Year to Cure World Poverty

In 2000, the United Nations Millennium Summit laid out its ambitious plans for global development, pledging to drastically reduce poverty by 2015. Economist Jeffrey Sachs was one of the leading strategists behind these goals. A former champion of free-trade, Sachs has since adopted an agenda at odds with the economist orthodoxy. Instead of preaching the merits of busting into poor economies with aggressive liberalizing reforms, he argues for more economic aid. Sachs hopes to inspire "a 21st-Century green revolution" in which poor countries develop in leaps and bounds through the increased financial support of wealthy countries. The efficacy of foreign aid has long been called into question by many economists, who remain wary of the corruption of recipient governments, particularly in Africa. Sachs dismissed these concerns, claiming that "the idea that African failure is due to African poor governance is one of the great myths of our time." According to Sachs, states mired in poverty will only dig themselves out of their holes if adequately funded by the developed world. – YaleGlobal.