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You Can’t Develop What You Don’t Know: The Realities and Limitations of Foreign Aid Missions

In: Moonshots and the New Industrial Policy

Author

Listed:
  • Kathryn Waldron

    (George Mason University)

  • Christopher J. Coyne

    (George Mason University)

Abstract

Mariana Mazzucato argues that capitalism needs to be rebuilt around private-public partnered “missions.” To facilitate these missions, Mazzucato provides seven pillars to serve as guidelines. Using Mazzucato’s pillars, we critically review US government efforts to develop the local economy and establish new political institutions through foreign aid. We analyze the successfulness of these “missions” by assessing government officials’ ability to overcome the “knowledge problem” and “political economy problems.” We conclude that Mazzucato’s pillars are unlikely to be satisfied due to these dual problems.

Suggested Citation

  • Kathryn Waldron & Christopher J. Coyne, 2024. "You Can’t Develop What You Don’t Know: The Realities and Limitations of Foreign Aid Missions," International Studies in Entrepreneurship, in: Magnus Henrekson & Christian Sandström & Mikael Stenkula (ed.), Moonshots and the New Industrial Policy, pages 191-212, Springer.
    • Handle: RePEc:spr:inschp:978-3-031-49196-2_11
    DOI: 10.1007/978-3-031-49196-2_11
    as

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