Dambisa Moyo, Baroness Moyo

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Dambisa Felicia Moyo, Baroness Moyo (born 2 February 1969)[1] is a Zambian-born economist and author, known for her analysis of macroeconomics and global affairs.[2] She has written five books, including four New York Times bestsellers: Dead Aid: Why Aid Is Not Working and How There Is a Better Way for Africa (2009), How the West Was Lost: Fifty Years of Economic Folly – And the Stark Choices that Lie Ahead (2011), Winner Take All: China's Race for Resources and What It Means for the World (2012), Edge of Chaos: Why Democracy Is Failing to Deliver Economic Growth – and How to Fix It (2018), and How Boards Work: And How They Can Work Better in a Chaotic World (2021).

Early life and education

Moyo was born in 1969 in Lusaka, Zambia.[3] She spent some of her childhood in the United States, while her father was pursuing his post graduate education, then returned to Zambia.[4]

She studied chemistry at the University of Zambia,[4] and completed her BS in chemistry in 1991 at American University in Washington, D.C. via a scholarship.[3] She received an MBA in finance from the university in 1993.[5][6]

She acquired a Master of Public Administration (MPA) degree at Harvard University's John F. Kennedy School of Government in 1997.[5][7] In 2002 she received a DPhil in economics from St Antony's College, Oxford University.[8]

Career

World Bank and Goldman Sachs

Following her MBA, Moyo worked at the World Bank from May 1993 to September 1995.[9] She was a consultant in the bank's Europe, Central Asia and Africa departments,[10] and was one of the 20 contributing authors to the World Bank's 1994 annual World Development Report.[11]

After pursuing her MPA and PhD, Moyo joined Goldman Sachs as a research economist and strategist in 2001.[12] She was with the company until November 2008, working mainly in debt capital markets, hedge funds coverage, and global macroeconomics.[10][13] Part of her tenure at Goldman Sachs was spent advising developing countries on the issuing of bonds on the international market.[14] She was also head of economic research and strategy for sub-Saharan Africa.[9]

Board memberships

After leaving Goldman Sachs, Moyo joined the board of directors of the international brewer SABMiller in 2009.[15][16] She is also a former board member of Barclays Bank,[10][17][18] the international mining company Barrick Gold,[19][20][21] and the data storage company Seagate Technology.[22][21]

As of 2025, she is on the boards of National Geographic,Chevron Corporation,[23][21] 3M Company,[24][21] and Condé Nast.[21][25]

Moyo is also a former board member of the charities Lundin for Africa[26][27] and Room to Read.[28][29]

She is a member of the World Economic Forum's Global Agenda Council on Global Economic Imbalances,[30] The Trilateral Commission,[31] and the Bretton Woods Committee.[32]

Journalism and public speaking

File:Dambisa Moyo taken by Chad Braithwaite.jpg
Moyo in 2019.

Moyo is a public speaker, commentator, and columnist. She has written for international financial and economic journals, periodicals, and publications, including The Wall Street Journal,[33] Financial Times,[34][35] The New York Times,[36] and Time.[37]

She has lectured at financial and economic summits, forums, and conferences, including the annual World Economic Forum conference in Davos,[9][38] the Council on Foreign Relations,[39] the American Enterprise Institute,[40][41] the annual Bilderberg Conference,[42] the Peterson Institute for International Economics,[43][44] the Organisation for Economic Co-operation and Development (OECD),[45] the Aspen Institute,[46][47] and the Ambrosetti Forum.[48] She also speaks at venues including TEDTalks and BBCTemplate:'s HARDtalk,[49][50] and is a commentator on business-news television networks.

Awards and honors

On 8 November 2022, she was created Baroness Moyo, of Knightsbridge in the City of Westminster,[51] receiving a life peerage during the Queen's 2022 Special Honours.[52] She was also elected to the American Academy of Arts & Sciences in 2022,[53] and as an Honorary Fellow of Queens' College, Cambridge in 2023.[54]

Recognition includes:

Books

Dead Aid

Moyo's first book, Dead Aid: Why Aid Is Not Working and How There is Another Way for Africa (2009), became a New York Times bestseller.[69] It argues that government-to-government foreign aid has harmed Africa and should be phased out. In the book she states that in the past 50 years, more than $1 trillion in development-related aid has been transferred from rich countries to Africa, and questions whether anything has changed.[70]

The book suggests that official development assistance (ODA), as opposed to humanitarian aid, perpetuates the cycle of poverty and hinders economic growth in Africa.[71][72][73] It offers developing countries proposals for financial development instead of relying on foreign government-to-government aid.[73]

The Financial Times summarized the book's argument, stating "Limitless development assistance to African governments, [Moyo] argues, has fostered dependency, encouraged corruption and ultimately perpetuated poor governance and poverty."[74]

How the West Was Lost

Moyo's second book, How the West Was Lost: Fifty Years of Economic Folly – And the Stark Choices that Lie Ahead (2011), became a New York Times bestseller, debuting at No. 6.[75]

In a review in The Observer, Paul Collier wrote that "her diagnosis of the recent disasters in financial markets is succinct and sophisticated".[76] The Guardian stated, "How the West Was Lost is more interesting, wider in scale and more important than Dead Aid." It went on to state, "Moyo is a very orthodox thinker, unable to consider a world beyond free markets and underpriced resources and blind to the social effects of what she proposes and celebrates"."[77][78]

Similarly, Alan Beattie of the Financial Times wrote, "The challenges it identifies are for the most part real, if not original. But the huge flaws of the emerging economies are ignored."[79] The Economist said "these arguments need much better supporting material than the book provides".[80][81]

Winner Take All

Moyo's third book, Winner Take All: China's Race for Resources and What It Means for the World (2012), examines global commodity dynamics over the next several decades, specifically China's massive global rush for natural resources including hard commodities (metals and minerals) and soft commodities (timber and food). It predicts the financial and geopolitical implications of a world of diminishing resources,[82] and argues that China is already well on the way to gaining the upper hand in world economic dominance.[83]

Winner Take All became a New York Times bestseller.[84] A review in the Financial Times stated that "If Dambisa Moyo is right, the demands of the world's most populous state are bad news for the rest of us. ... One cannot accuse Moyo of failing to do her homework."[85] The Telegraph commented "Moyo thinks [China's impact on the global commodity market] will go on and on, powered by an unstoppable Chinese economy. Perhaps she is right, but the grounds for doubting whether the future will be a straight line from the past deserve a hearing."[86]

Edge of Chaos: Why Democracy Is Failing to Deliver Economic Growth – and How to Fix It

In Edge of Chaos,[87] the author crafts a compelling argument that "the global failure to achieve sustained, inclusive growth underpins the rampant political turmoil" increasingly prevalent in the 21st century.[88] Moyo identifies improvements to worker efficiency as key to economic growth,[88] and discusses the need to overhaul democratic capitalism, with potential solutions.[89] The book outlines a 10-point "Blueprint for a New Democracy",[89] designed to encourage the growth of capitalism.[88]

How Boards Work: And How They Can Work Better in a Chaotic World

Moyo's fifth book, How Boards Work: And How They Can Work Better in a Chaotic World was released in 2021.[90] It provides an insider's perspective of corporate boards, reassesses the three-part board mandate, and calls for more transparent, knowledgeable, and diverse boards to steer companies through 21st-century challenges. The Financial Times stated that the book would be "highly instructive for aspiring non-executives" and provided "thoughtful analysis and reform proposals against which boardroom sophisticates can usefully test their assumptions".[90]

Personal life

In December 2020 Moyo married billionaire Jared Smith, co-founder of Utah-based cloud computing company Qualtrics.[91]

Bibliography

  • Dead Aid: Why Aid Is Not Working and How There Is a Better Way for Africa (2009) Template:ISBN
  • How the West Was Lost: Fifty Years of Economic Folly – And the Stark Choices that Lie Ahead (2011) Template:ISBN
  • Winner Take All: China's Race for Resources and What It Means for the World (2012) Template:ISBN
  • Edge of Chaos: Why Democracy Is Failing to Deliver Economic Growth – and How to Fix It (2018) Template:ISBN
  • How Boards Work: And How They Can Work Better in a Chaotic World (2021) Template:ISBN

References

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  1. ↑ Moyo showed a copy of an official document with her date and place of birth as part of a lecture she gave at TEDGlobal 2013, Edinburgh, Scotland. Script error: No such module "citation/CS1".
  2. ↑ Script error: No such module "citation/CS1".
  3. ↑ a b Moyo, Dambisa. "Preface" Template:Webarchive. Excerpted from DEAD AID: Why Aid Is Not Working and How There Is a Better Way for Africa. Farrar, Straus and Giroux, 2009. Reprinted in The Wall Street Journal, 20 March 2009.
  4. ↑ a b Script error: No such module "citation/CS1".
  5. ↑ a b Curley, Robert. "Moyo, Dambisa" Template:Webarchive. In: Britannica Book of the Year 2013. Encyclopædia Britannica, Inc., 2013. p. 97.
  6. ↑ Dambisa F. Moyo BSc, MPA, MBA, Ph.D. Template:Webarchive – Executive Profile at Bloomberg.
  7. ↑ Anderson, Lindsay Hodges. "Alumna Argues Aid in Africa is Failing, Needs to be Reassessed" Template:Webarchive. Harvard Kennedy School News & Events. HKS.Harvard.edu. 1 April 2009.
  8. ↑ Dambisa Moyo Template:Webarchive. Encyclopædia Britannica. Retrieved 19 May 2015.
  9. ↑ a b c Dambisa Moyo Template:Webarchive. UN Leaders Programme. United Nations. May 2009. Accessed 11 July 2015.
  10. ↑ a b c "Barclays Board change" Template:Webarchive. Newsroom.Barclays.com. 22 April 2010. Accessed 11 July 2015.
  11. ↑ Script error: No such module "citation/CS1".
  12. ↑ Elmhirst, Sophie. "The NS Interview: Dambisa Moyo, economist" Template:Webarchive. New Statesman. 5 March 2010. Accessed 11 July 2015.
  13. ↑ "Global Economics Paper No: 134" Template:Webarchive. GoldmanSachs.com. 1 December 2005. Accessed 11 July 2015.
  14. ↑ Solomon, Deborah. "The Anti-Bono" Template:Webarchive. The New York Times Magazine. 19 February 2009. Accessed 11 July 2015.
  15. ↑ Board of Directors – Dambisa Moyo Template:Webarchive. SABMiller. SABMiller.com. Retrieved 11 July 2015.
  16. ↑ Sustainability – Governance and monitoring Template:Webarchive. SABMiller. SABMiller.com. Retrieved 20 May 2015.
  17. ↑ Script error: No such module "citation/CS1".
  18. ↑ Dambisa Moyo Template:Webarchive. Barclays.com. Retrieved 11 July 2015.
  19. ↑ Board of Directors Template:Webarchive. Barrick Gold. Barrick.com. Retrieved 11 July 2015.
  20. ↑ "One-on-one with Dambisa Moyo, Barrick Gold's newest Board member" Template:Webarchive. Barrick Beyond Borders. Barrick Gold. 26 August 2011. Accessed 11 July 2015.
  21. ↑ a b c d e Script error: No such module "citation/CS1".
  22. ↑ Dr. Dambisa Moyo Elected To Seagate Board Of Directors Template:Webarchive. Seagate Technology. Seagate.com. Retrieved 26 October 2015.
  23. ↑ Script error: No such module "citation/CS1".
  24. ↑ Script error: No such module "citation/CS1".
  25. ↑ Script error: No such module "citation/CS1".
  26. ↑ Lundin For Africa Annual Report 2008 Template:Webarchive. p. 8.
  27. ↑ Lundin For Africa Annual Report 2009 Template:Webarchive. p. 8.
  28. ↑ "Room to Read Welcomes Economist and Author Dambisa Moyo to Its Board of Directors" Template:Webarchive. Room to Read. Media.RoomToRead.org. 4 March 2009.
  29. ↑ Room to Read Annual Report 2008 Template:Webarchive. p. 30.
  30. ↑ Global Agenda Council on Global Economic Imbalances 2014–2016 Template:Webarchive. World Economic Forum. Retrieved 20 May 2015.
  31. ↑ Script error: No such module "citation/CS1".
  32. ↑ The Bretton Woods Committee – Committee Members Template:Webarchive. Bretton Woods Committee. Retrieved 30 May 2015.
  33. ↑ Moyo, Dambisa. "For Poor Countries, China Is No Model" Template:Webarchive. The Wall Street Journal. 19 September 2014.
  34. ↑ Script error: No such module "citation/CS1".
  35. ↑ Moyo, Dambisa. "Not Enough Bad News is Priced into the Financial Markets" Template:Webarchive. Financial Times. 27 March 2015.
  36. ↑ Script error: No such module "citation/CS1".
  37. ↑ Moyo, Dambisa. "The Resource Shortage Is Real" . Time. 8 June 2012.
  38. ↑ Script error: No such module "citation/CS1".
  39. ↑ "Is Aid Dead? A Discussion with Dambisa Moyo on Foreign Aid and Development" Template:Webarchive. Council on Foreign Relations. 21 April 2009.
  40. ↑ "Does Africa's Future Depend on Global Financial Institutions?" Template:Webarchive American Enterprise Institute. 20 April 2009.
  41. ↑ AEI – Dambisa Moyo discusses how to incentivize African governments and end aid dependence Template:Webarchive (video). 20 April 2009.
  42. ↑ Bilderberg Meetings – Sitges, Spain 3–6 June 2010: Final List of Participants Template:Webarchive. BilderbergMeetings.org.
  43. ↑ Event: Dambisa Moyo: America's Hobson's Choice Template:Webarchive. Peterson Institute for International Economics. 9 March 2011.
  44. ↑ Event: Dambisa Moyo: Q&A Template:Webarchive. Peterson Institute for International Economics. 9 March 2011.
  45. ↑ OECD 50th Anniversary Forum – Speakers Template:Webarchive. Organisation for Economic Co-operation and Development. 24–25 May 2011.
  46. ↑ McCloskey Speaker Series: A Conversation with International Economist Dambisa Moyo Template:Webarchive. Aspen Institute. August 2013.
  47. ↑ A Conversation with International Economist Dambisa Moyo Template:Webarchive. (video) Aspen Institute. August 2013.
  48. ↑ Morrison, Patt. "The Ambrosetti Forum: Economic brainstorming, Italian-style" . Los Angeles Times. 11 September 2013.
  49. ↑ Dambisa Moyo Template:Webarchive. Speakers.com. Retrieved 4 June 2015.
  50. ↑ Speaker Brief for Dr. Dambisa Moyo Template:Webarchive. DambisaMoyo.com. Retrieved 3 June 2015.
  51. ↑ Script error: No such module "citation/CS1".
  52. ↑ Script error: No such module "citation/CS1".
  53. ↑ Script error: No such module "citation/CS1".
  54. ↑ Script error: No such module "citation/CS1".
  55. ↑ Young Global Leader Honorees 2009 Template:Webarchive. World Economic Forum. Retrieved 19 May 2015.
  56. ↑ Wolfowitz, Paul. "The 2009 Time 100: Dambisa Moyo" . Time. 30 April 2009. Accessed 11 July 2015.
  57. ↑ The 2009 Time 100 – Full List . Time. 2009. Accessed 11 July 2015.
  58. ↑ "The Power of Going Against the Grain: Dambisa Moyo, Economist and provocateur" Template:Webarchive. In: OTemplate:'s First-Ever Power List. O, The Oprah Magazine. September 2009. Accessed 11 July 2015.
  59. ↑ "Dambisa Moyo received the Hayek Lifetime Achievement Award 2013" Template:Webarchive. Austrian Economics Center. AustrianCenter.com. 17 October 2013.
  60. ↑ "A worthy winner" Template:Webarchive. Austrian Economics Center. AustrianCenter.com. 15 April 2013.
  61. ↑ "GQ and Editorial Intelligence's 100 Most Connected Women 2014" Template:Webarchive. GQ. 8 March 2015.
  62. ↑ Roberts, Anna. "The 100 most connected women" Template:Webarchive. The Telegraph. 29 September 2014.
  63. ↑ "DAMBISA MOYO: Unbequeme Freiheitsfrau" Template:Webarchive. In: Die großen Denker. Handelsblatt. Handelsblatt GmbH, e-published 14 April 2015.
  64. ↑ Heckel, Manuel. "An Inconvenient Woman" Template:Webarchive. Handelsblatt Global Edition. No. 108; 4 February 2015. Reprinted: [1] Template:Webarchive.
  65. ↑ "DAMBISA MOYO: Unbequeme Freiheitsfrau" Template:Webarchive. Handelsblatt Online. 29 January 2015.
  66. ↑ Script error: No such module "citation/CS1".
  67. ↑ Script error: No such module "citation/CS1".
  68. ↑ Script error: No such module "citation/CS1".
  69. ↑ Best Sellers – Hardcover Nonfiction Template:Webarchive. The New York Times. 12 April 2009.
  70. ↑ Lawler, Joseph. "Overcoming Aid" Template:Webarchive. The American Spectator. 16 March 2009.
  71. ↑ Majhanovich, Suzanne and Macleans A. Geo-JaJa. Economics, Aid and Education: Implications for Development Template:Webarchive. Springer Science & Business Media, 2013. pp. 17–18.
  72. ↑ Gueye, Lika. "The Secrets of Their Success: Damibsa Moyo, Economist and author" Template:Webarchive. Finance & Development. International Monetary Fund. June 2013. pp. 25–26.
  73. ↑ a b Wallis, William. "Lunch with the FT: Dambisa Moyo" Template:Webarchive. Financial Times. 30 January 2009.
  74. ↑ Wallis, William. "Foreign aid critic spreads theory far and fast" Template:Webarchive. Financial Times. 23 May 2009.
  75. ↑ The New York Times Book Review: Print Hardcover Best Sellers. The New York Times. 6 March 2011.
  76. ↑ Collier, Paul. "How the West Was Lost by Dambisa Moyo – review" Template:Webarchive. The Observer. 16 January 2011.
  77. ↑ Vidal, John. "How the West Was Lost by Dambisa Moyo and Consumptionomics by Chandran Nair – review" Template:Webarchive. The Guardian. 26 February 2011.
  78. ↑ Script error: No such module "citation/CS1".
  79. ↑ Beattie, Alan. "New world disorder" Template:Webarchive. Financial Times. 26 February 2011.
  80. ↑ Script error: No such module "citation/CS1".
  81. ↑ Script error: No such module "citation/CS1".
  82. ↑ Winner Take All: China's Race for Resources and What It Means for the World Template:Webarchive. DambisaMoyo.com. Retrieved on 12 August 2012.
  83. ↑ Dambisa Moyo Template:Webarchive. Speakers Associates. Retrieved 3 June 2015.
  84. ↑ Best Sellers – Hardcover Nonfiction Template:Webarchive. The New York Times. 24 June 2012.
  85. ↑ Gapper, John. "China crunch" Template:Webarchive. Financial Times. 23 June 2012.
  86. ↑ Blair, David. "Winner Take All by Dambisa Moyo: review" Template:Webarchive. The Telegraph. 19 Jun 2012.
  87. ↑ Script error: No such module "citation/CS1".
  88. ↑ a b c Script error: No such module "citation/CS1".
  89. ↑ a b Script error: No such module "citation/CS1".
  90. ↑ a b Script error: No such module "citation/CS1".
  91. ↑ Script error: No such module "citation/CS1".

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External links

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