Ending Global Poverty: Why Money Isn’t Enough

Historically, the quest to reduce poverty has relied on two levers: economic growth (the idea that “a rising tide lifts all boats”) and the intentional redistribution of resources to the poor, either by the domestic state or foreign aid. In this essay, we argue that growth and aid, at least as currently constituted, are unlikely to suffice to end extreme poverty by 2030. To end extreme poverty sustainably and as quickly as possible, the states governing the world’s poor need to be strengthened such that they are both accountable to the needs of the poor and have the capacity to meet those needs. The international development community should recalibrate the allocation of resources to increase accountability and state capacity.