Posted by Connor, Jan. 29, 2010

photo credit:
Tyler A. Cacek
Almost half the world—over three billion people—live on less than $2.50 a day. The condition of humanity’s well-being is, in the aggregate, a story of poverty, suffering, and deprivation.
Sympathetic Americans have, to their credit, and due to their more affluent position resulting from their relative economic freedom and capitalist system, been a major factor in trying to correct this imbalance. A recent Hudson Institute study (PDF) notes that yearly private philanthropy from individuals in the United States of America stands at an impressive $37 billion.
Contrasted with government aid at $21.8 billion, we immediately can put to rest the erroneous assertion, often made, that people do not donate enough and government can do more. Indeed, as the study further shows, the aid offered by the government pales in comparison to the total financial flow from the USA to developing countries. When the $79 billion of yearly remittances (money transferred by individuals to their families/friends in another country) are factored in along with private investment in these countries, government aid accounts for only nine percent of the pie.
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