Angus Deaton does not like aid-but he likes the World Bank of 1996
In a long interview with the Swiss Neue Zuercher Zeitung (NZZ) (in German) Noble laureate Angus Deaton confirms that he does not like aid. But one paragraph struck me as so remarkably anachronistic that it seems worth discussing it a bit further: Some of the better World Bank staff say "We know how to build accountable institutions. If a country wants to have them, they can ask us for advice". Maybe that is a way to really help. Q: That would be a new role for the World Bank. Yes. I think the World Bank should become a huge consultancy firm that should collect the immense knowledge about development that has been accumulated over decades. They have many great professionals who know how to build damns or privatize water suppliers. If a government wants o undertake such a project, they could ask the World Bank what works in other countries and what does not. This would avoid errors. And rich countries could pay for such consultancy services. But today's World Bank can