Privatization of Foreign Aid
Back in 2000 the Onion saw it coming; foreign aid has become largely privatized in recent years:
Private philanthropy is 50 percent greater than government assistance, and remittances are twice as great as private philanthropy. Religious organizations give about a third as much as the entire U.S. government.
However, this privatization may not come as much of a surprise if you have been following the story of remittances over the last few years. It’s a topic that will certainly gain more traction in the near term as various groups seek ways to capitalize, direct and invest these financial flows in productive projects in migrant-sending regions.
