Recently, three economists were awarded the Nobel Prize for their work in poverty reduction.
A study giving surprising results, conducted by Michael Kremer of Harvard University, focused on medicine pricing in impoverished areas. It showed mothers in poor areas were over 75% more likely to provide de-worming medicine for their children if it was free rather than $1.
After publishing this study, Kremer stated medicine should be free for these countries if we want to make real change in global health.
Changes like this one become possible with foreign aid, a process in which America spends a little over 1% of it’s budget.
Foreign aid is about more than just charity. The effects are felt throughout the world, even in America.
As a country rises out of poverty, those who were struggling to survive suddenly become potential consumers.
With more money and resources, these people begin to buy products that they usually wouldn’t have considered, like refrigerators, televisions and other luxury items.
As demand for these imports grows, jobs are created to make these products, strengthening the global economy and repaying the money invested in these countries.
It is for all of these reasons I urge U.S. Sens. James Lankford, Senator Jim Inhofe, and U.S. Rep. Kevin Hern to protect the international affairs budget.
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