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The Context of Foreign Aid: Modern Imperialism

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  • Lynn Richards
  • Lynn Richards

Abstract

Foreign aid is seldom seen by bourgeois economics for what it actually is — one method by which capital and capitalism are internationalized. Bourgeois economists argue over aid's effectiveness in promoting development, while in business and political circles its defenders make the only really telling arguments; that markets and resources are secured, and a climate conducive to world wide private investment is created and strengthened. Those arguments fit quite well into the Marxist concept of imperialism, an analysis of which is in cluded here, while a study of U.S. aid flows from 1958 to 1974 confirms such a hypothesis.

Suggested Citation

  • Lynn Richards & Lynn Richards, 1977. "The Context of Foreign Aid: Modern Imperialism," Review of Radical Political Economics, Union for Radical Political Economics, vol. 9(4), pages 43-75, December.
    • Handle: RePEc:sae:reorpe:v:9:y:1977:i:4:p:43-75
    DOI: 10.1177/048661347700900404
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    References listed on IDEAS

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    1. Zarembka, Paul., 1976. "Theory of employment in the periphery," ILO Working Papers 991802963402676, International Labour Organization.
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    3. Constantine Michalopoulos, 1970. "The Foreign Exchange Constraint Tariffs And Import Substitution," Kyklos, Wiley Blackwell, vol. 23(2), pages 315-331, May.
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    5. Weisskopf, Thomas E., 1972. "The impact of foreign capital inflow on domestic savings in underdeveloped countries," Journal of International Economics, Elsevier, vol. 2(1), pages 25-38, February.
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