In the 42 years from 1960 to 2001, the countries of sub-Saharan Africa received $445 billion in official development assistance from all sources, according to the Organisation for Economic Cooperation and Development’s online database. Can anyone honestly say that the aid-receiving countries of sub-Saharan Africa are a trillion dollars better off than they were in 1960? Most are all but entirely dependent on aid and are hopelessly in debt, though most of the debt was incurred on highly concessional terms. The reasons are endlessly debated, but surely there can be unanimity on one point: there has been a gross, and chronic, misallocation of resources and a gigantic opportunity cost.