05/22/2014 05:27 pm ET Updated Jul 22, 2014

The Trials and Triumphs of Aiding Africa

Tamara Murray via Getty Images

From Project Syndicate

In the world of venture capital, a success rate of 30 percent is considered a great track record. In the world of international development, critics hold up every misstep as proof that aid is like throwing money down a rat hole. When you're trying to do something as hard as fighting poverty and disease, you will never achieve anything meaningful if you're afraid to make mistakes.

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