[...] As Britain and France were withdrawing from their colonies, they needed a new way of explaining the gross inequality that persisted between themselves and the people they had ruled for so long. The story of development--that the nations of the world were simply at different positions along the Great Arrow of Progress--offered a convenient alibi. It allowed them to disavow responsibility for the misery of the colonies, and it was more palatable than the explicit racial theories they had relied on in the past. What is more, it allowed them to shift their role in the eyes of the world: graciously relinquishing imperial power, they would turn to aiding their fellow man.

Anthropologists tell us that when the structure of a core myth begins to change, everything else about society changes around it, and fresh new possibilities open up that weren't even thinkable before. When myths fall apart, revolutions happen.

Leveraging debt, they imposed 'structural adjustment programs' that reversed all the economic reforms that global South countries had painstakingly enacted.

Today, power imbalances like these, enshrined in the Uruguay Round of the WTO, are estimated to cost poor countries around $700 billion each year in lost export revenues.

[...] It's not that the $128 billion in aid disbursements doesn't exist--it does. But if we broaden our view and look at it in context, we see that it is vastly outstripped by the financial resources that flow in the opposite direction. [...]

[...] in 2012, the last year of recorded data, developing countries received a little over $2 trillion, including all aid, investment and income from abroad. But more than twice that amount, some $5 trillion, flowed out of them in the same year. [...] If we look at all years since 1980, these net outflows add up to an eye-popping total of $26.5 trillion--that's how much money has been drained out of the global South over the past few decades. To get a sense of the scale of this, $26.5 trillion is roughly the GDP of the United States and Western Europe combined.

there is a yawning gap between the 'real value' of the labour and goods that poor countries sell and the prices they are actually paid for them. This is what economists call 'unequal exchange'.

[...] the discourse of aid distracts us from seeing the bigger picture. It hides the patterns of extraction that are actively causing the impoverishment of the global South today and actively impeding meaningful development. The charity paradigm obscures the real issues at stake: it makes it seem as though the West is 'developing' the global South, when in reality the opposite is true. Rich countries aren't developing poor countries; poor countries are effectively developing rich countries--and they have been since the late 15th century. So it's not only that the aid narrative misunderstands what really causes poverty, it's that it actually gets it backwards. Just as in Truman's time, aid serves as a kind of propaganda that makes the takers seem like givers, and conceals how the global economy actually works.

[...] Poor countries don't need our aid; they need us to stop impoverishing them. Until we target the structural drivers of global poverty--the underlying architecture of wealth extraction and accumulation--development efforts will continue to fail, decade after decade. [...]