The Right Honourable
The Baroness Moyo
Official portrait, 2023
Member of the House of Lords
Lord Temporal
Assumed office
8 November 2022
Life peerage
Personal details
Born
Dambisa Felicia Moyo

(1969-02-02) 2 February 1969
Lusaka, Zambia
Political partyConservative
SpouseJared Smith (President of Qualtrics)
Alma materAmerican University (BS, MBA)
Harvard University (MPA)
St Antony's College, Oxford (DPhil)
OccupationEconomist, author
Known forEconomic theories on
macroeconomics, international development, global affairs

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 co-authored the World Bank's annual World Development Report.[9]

After pursuing her MPA and PhD, Moyo joined Goldman Sachs as a research economist and strategist in 2001.[11] She was with the company until November 2008, working mainly in debt capital markets, hedge funds coverage, and global macroeconomics.[10][12] Part of her tenure at Goldman Sachs was spent advising developing countries on the issuing of bonds on the international market.[13] 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.[14][15] She is also a former board member of Barclays Bank,[10][16][17] the international mining company Barrick Gold,[18][19][20] and the data storage company Seagate Technology.[21][20]

As of 2022, she is on the boards of Chevron Corporation,[22][20] 3M Company.[23][20] and Condé Nast.[20][24]

Moyo is also a former board member of the charities Lundin for Africa[25][26] and Room to Read.[27][28]

She is a member of the World Economic Forum's Global Agenda Council on Global Economic Imbalances,[29] and the Bretton Woods Committee.[30]

Journalism and public speaking

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,[31] Financial Times,[32][33] The New York Times,[34] and Time.[35]

She has lectured at financial and economic summits, forums, and conferences, including the annual World Economic Forum conference in Davos,[9][36] the Council on Foreign Relations,[37] the American Enterprise Institute,[38][39] the annual Bilderberg Conference,[40] the Peterson Institute for International Economics,[41][42] the Organisation for Economic Co-operation and Development (OECD),[43] the Aspen Institute,[44][45] and the Ambrosetti Forum.[46] She also speaks at venues including TEDTalks and BBC's HARDtalk,[47][48] and is a commentator on business-news television networks.

It was announced on 14 October 2022, that as part of the 2022 Special Honours, Moyo would receive a life peerage.[49] On 8 November 2022, she was created Baroness Moyo, of Knightsbridge in the City of Westminster.[50]

Awards and honors

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.[65] 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.[66]

The book suggests that official development assistance (ODA), as opposed to humanitarian aid, perpetuates the cycle of poverty and hinders economic growth in Africa.[67][68][69] It offers developing countries proposals for financial development instead of relying on foreign government-to-government aid.[69]

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."[70]

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.[71]

In a review in The Observer, Paul Collier wrote that "her diagnosis of the recent disasters in financial markets is succinct and sophisticated".[72] 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"."[73][74]

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."[75] The Economist said "these arguments need much better supporting material than the book provides".[76][77]

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,[78] and argues that China is already well on the way to gaining the upper hand in world economic dominance.[79]

Winner Take All became a New York Times bestseller.[80] 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."[81] 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."[82]

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.[83] 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".[83]

Personal life

In December 2020 Moyo married billionaire Jared Smith, co-founder of Utah-based cloud computing company Qualtrics.[84]

Bibliography

  • Dead Aid: Why Aid Is Not Working and How There Is a Better Way for Africa (2009) ISBN 978-0374139568
  • How the West Was Lost: Fifty Years of Economic Folly – And the Stark Choices that Lie Ahead (2011) ISBN 978-0374533212
  • Winner Take All: China's Race for Resources and What It Means for the World (2012) ISBN 978-0465028283
  • Edge of Chaos: Why Democracy Is Failing to Deliver Economic Growth – and How to Fix It (2018) ISBN 978-0465097463
  • How Boards Work: And How They Can Work Better in a Chaotic World (2021) ISBN 978-0349128405

References

  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. Moyo, Dambisa (June 2013). "Is China the new idol for emerging economies?". TED. Archived from the original on 11 November 2013. Retrieved 13 November 2013.
  2. ↑ Moyo, Dambisa (18 April 2015). "What Leaders Can Learn from a Long Run". Wall Street Journal. Archived from the original on 8 July 2015. Retrieved 7 July 2015.
  3. 1 2 Moyo, Dambisa. "Preface" Archived 19 March 2017 at the Wayback Machine. 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. 1 2 "Dambisa Moyo". Encyclopædia Britannica. Archived from the original on 2 April 2019. Retrieved 2 March 2019.
  5. 1 2 Curley, Robert. "Moyo, Dambisa" Archived 19 May 2016 at the Wayback Machine. In: Britannica Book of the Year 2013. Encyclopædia Britannica, Inc., 2013. p. 97.
  6. ↑ Dambisa F. Moyo BSc, MPA, MBA, Ph.D. Archived 24 September 2015 at the Wayback Machine – Executive Profile at Bloomberg.
  7. ↑ Anderson, Lindsay Hodges. "Alumna Argues Aid in Africa is Failing, Needs to be Reassessed" Archived 26 March 2011 at the Wayback Machine. Harvard Kennedy School News & Events. HKS.Harvard.edu. 1 April 2009.
  8. ↑ Dambisa Moyo Archived 20 May 2013 at the Wayback Machine. Encyclopædia Britannica. Retrieved 19 May 2015.
  9. 1 2 3 4 Dambisa Moyo Archived 4 March 2016 at the Wayback Machine. UN Leaders Programme. United Nations. May 2009. Accessed 11 July 2015.
  10. 1 2 3 "Barclays Board change" Archived 12 July 2015 at the Wayback Machine. Newsroom.Barclays.com. 22 April 2010. Accessed 11 July 2015.
  11. ↑ Elmhirst, Sophie. "The NS Interview: Dambisa Moyo, economist" Archived 8 March 2010 at the Wayback Machine. New Statesman. 5 March 2010. Accessed 11 July 2015.
  12. ↑ "Global Economics Paper No: 134" Archived 29 July 2014 at the Wayback Machine. GoldmanSachs.com. 1 December 2005. Accessed 11 July 2015.
  13. ↑ Solomon, Deborah. "The Anti-Bono" Archived 21 June 2013 at the Wayback Machine. The New York Times Magazine. 19 February 2009. Accessed 11 July 2015.
  14. ↑ Board of Directors – Dambisa Moyo Archived 12 July 2015 at the Wayback Machine. SABMiller. SABMiller.com. Retrieved 11 July 2015.
  15. ↑ Sustainability – Governance and monitoring Archived 12 July 2015 at the Wayback Machine. SABMiller. SABMiller.com. Retrieved 20 May 2015.
  16. ↑ Horton, Emily (6 March 2019), Three directors to leave Barclays board at May AGM, FN London, retrieved 11 June 2020
  17. ↑ Dambisa Moyo Archived 2 May 2015 at the Wayback Machine. Barclays.com. Retrieved 11 July 2015.
  18. ↑ Board of Directors Archived 13 July 2015 at the Wayback Machine. Barrick Gold. Barrick.com. Retrieved 11 July 2015.
  19. ↑ "One-on-one with Dambisa Moyo, Barrick Gold's newest Board member" Archived 12 July 2015 at the Wayback Machine. Barrick Beyond Borders. Barrick Gold. 26 August 2011. Accessed 11 July 2015.
  20. 1 2 3 4 5 Dambisa F. Moyo, Chevron Board, retrieved 11 June 2020
  21. ↑ Dr. Dambisa Moyo Elected To Seagate Board Of Directors Archived 4 March 2016 at the Wayback Machine. Seagate Technology. Seagate.com. Retrieved 26 October 2015.
  22. ↑ Affairs, Chevron Policy, Government and Public. "Dr. Dambisa Moyo and Dr. Wanda M. Austin Elected to Chevron's Board of Directors". chevron.com. Archived from the original on 20 August 2016. Retrieved 11 August 2016. {{cite web}}: |first= has generic name (help)CS1 maint: multiple names: authors list (link)
  23. ↑ "Dambisa Moyo, Mildstorm CEO, elected to 3M board". www.bizjournals.com. Retrieved 29 August 2019.
  24. ↑ "India could surpass China as world's biggest minerals buyer, says economist". Financial Times. August 2022.
  25. ↑ Lundin For Africa Annual Report 2008 Archived 27 April 2015 at the Wayback Machine. p. 8.
  26. ↑ Lundin For Africa Annual Report 2009 Archived 27 April 2015 at the Wayback Machine. p. 8.
  27. ↑ "Room to Read Welcomes Economist and Author Dambisa Miyo to Its Board of Directors" Archived 12 July 2015 at the Wayback Machine. Room to Read. Media.RoomToRead.org. 4 March 2009.
  28. ↑ Room to Read Annual Report 2008 Archived 24 September 2015 at the Wayback Machine. p. 30.
  29. ↑ Global Agenda Council on Global Economic Imbalances 2014–2016 Archived 23 July 2015 at the Wayback Machine. World Economic Forum. Retrieved 20 May 2015.
  30. ↑ The Bretton Woods Committee – Committee Members Archived 13 July 2015 at the Wayback Machine. Bretton Woods Committee. Retrieved 30 May 2015.
  31. ↑ Moyo, Dambisa. "For Poor Countries, China Is No Model" Archived 21 October 2016 at the Wayback Machine. The Wall Street Journal. 19 September 2014.
  32. ↑ "An exploration of the challenges facing today's boards". Financial Times. 10 May 2021. Retrieved 28 May 2022.
  33. ↑ Moyo, Dambisa. "Not Enough Bad News is Priced into the Financial Markets" Archived 7 July 2015 at the Wayback Machine. Financial Times. 27 March 2015.
  34. ↑ Moyo, Dambisa (28 June 2012). "Opinion | Beijing, a Boon for Africa". The New York Times. Retrieved 28 May 2022.
  35. ↑ Moyo, Dambisa. "The Resource Shortage Is Real" Archived 14 June 2012 at the Wayback Machine. Time. 8 June 2012.
  36. ↑ 8 quotes on the future of capitalism from Davos 2020, World Economic Forum, 2020, retrieved 11 June 2020
  37. ↑ "Is Aid Dead? A Discussion with Dambisa Moyo on Foreign Aid and Development" Archived 21 September 2015 at the Wayback Machine. Council on Foreign Relations. 21 April 2009.
  38. ↑ "Does Africa's Future Depend on Global Financial Institutions?" Archived 6 April 2015 at the Wayback Machine American Enterprise Institute. 20 April 2009.
  39. ↑ AEI – Dambisa Moyo discusses how to incentivize African governments and end aid dependence Archived 25 March 2016 at the Wayback Machine (video). 20 April 2009.
  40. ↑ Bilderberg Meetings – Sitges, Spain 3–6 June 2010: Final List of Participants Archived 14 January 2015 at the Wayback Machine. BilderbergMeetings.org.
  41. ↑ Event: Dambisa Moyo: America's Hobson's Choice Archived 2 April 2016 at the Wayback Machine. Peterson Institute for International Economics. 9 March 2011.
  42. ↑ Event: Dambisa Moyo: Q&A Archived 5 April 2016 at the Wayback Machine. Peterson Institute for International Economics. 9 March 2011.
  43. ↑ OECD 50th Anniversary Forum – Speakers Archived 24 September 2015 at the Wayback Machine. Organisation for Economic Co-operation and Development. 24–25 May 2011.
  44. ↑ McCloskey Speaker Series: A Conversation with International Economist Dambisa Moyo Archived 23 September 2015 at the Wayback Machine. Aspen Institute. August 2013.
  45. ↑ A Conversation with International Economist Dambisa Moyo Archived 22 January 2014 at the Wayback Machine. (video) Aspen Institute. August 2013.
  46. ↑ Morrison, Patt. "The Ambrosetti Forum: Economic brainstorming, Italian-style" Archived 11 October 2015 at the Wayback Machine. Los Angeles Times. 11 September 2013.
  47. ↑ Dambisa Moyo Archived 8 July 2015 at the Wayback Machine. Speakers.com. Retrieved 4 June 2015.
  48. ↑ Speaker Brief for Dr. Dambisa Moyo Archived 25 April 2015 at the Wayback Machine. DambisaMoyo.com. Retrieved 3 June 2015.
  49. ↑ "Political Peerages 2022". GOV.UK. 14 October 2022. Retrieved 15 October 2022.
  50. ↑ "Baroness Moyo". MPs and Lords. UK Parliament. Retrieved 8 November 2022.
  51. ↑ Young Global Leader Honorees 2009 Archived 4 April 2015 at the Wayback Machine. World Economic Forum. Retrieved 19 May 2015.
  52. ↑ Wolfowitz, Paul. "The 2009 Time 100: Dambisa Moyo" Archived 13 July 2015 at the Wayback Machine. Time. 30 April 2009. Accessed 11 July 2015.
  53. ↑ The 2009 Time 100 – Full List Archived 13 July 2015 at the Wayback Machine. Time. 2009. Accessed 11 July 2015.
  54. ↑ "The Power of Going Against the Grain: Dambisa Moyo, Economist and provocateur" Archived 24 September 2015 at the Wayback Machine. In: O's First-Ever Power List. O, The Oprah Magazine. September 2009. Accessed 11 July 2015.
  55. ↑ "Dambisa Moyo received the Hayek Lifetime Achievement Award 2013" Archived 13 July 2015 at the Wayback Machine. Austrian Economics Center. AustrianCenter.com. 17 October 2013.
  56. ↑ "A worthy winner" Archived 9 July 2015 at the Wayback Machine. Austrian Economics Center. AustrianCenter.com. 15 April 2013.
  57. ↑ "GQ and Editorial Intelligence's 100 Most Connected Women 2014" Archived 10 July 2015 at the Wayback Machine. GQ. 8 March 2015.
  58. ↑ Roberts, Anna. "The 100 most connected women" Archived 3 July 2018 at the Wayback Machine. The Telegraph. 29 September 2014.
  59. ↑ "DAMBISA MOYO: Unbequeme Freiheitsfrau" Archived 13 May 2016 at the Wayback Machine. In: Die großen Denker. Handelsblatt. Handelsblatt GmbH, e-published 14 April 2015.
  60. ↑ Heckel, Manuel. "An Inconvenient Woman" Archived 12 July 2015 at the Wayback Machine. Handelsblatt Global Edition. No. 108; 4 February 2015. Reprinted: Archived 12 July 2015 at the Wayback Machine.
  61. ↑ "DAMBISA MOYO: Unbequeme Freiheitsfrau" Archived 12 July 2015 at the Wayback Machine. Handelsblatt Online. 29 January 2015.
  62. ↑ "The Progress 1000: London's most influential people 2015 - City". Evening Standard. 16 September 2015. Retrieved 1 September 2022.
  63. ↑ "The Progress 1000: London's most influential people 2016 - City Fliers". Evening Standard. 7 September 2016. Retrieved 1 September 2022.
  64. ↑ "The Progress 1000: London's most influential people 2017 - Capitalisers: Business". Evening Standard. 19 October 2017. Retrieved 1 September 2022.
  65. ↑ Best Sellers – Hardcover Nonfiction Archived 22 March 2016 at the Wayback Machine. The New York Times. 12 April 2009.
  66. ↑ Lawler, Joseph. "Overcoming Aid" Archived 18 March 2009 at the Wayback Machine. The American Spectator. 16 March 2009.
  67. ↑ Majhanovich, Suzanne and Macleans A. Geo-JaJa. Economics, Aid and Education: Implications for Development Archived 10 June 2016 at the Wayback Machine. Springer Science & Business Media, 2013. pp. 17–18.
  68. ↑ Gueye, Lika. "The Secrets of Their Success: Damibsa Moyo, Economist and author" Archived 29 May 2016 at the Wayback Machine. Finance & Development. International Monetary Fund. June 2013. pp. 25–26.
  69. 1 2 Wallis, William. "Lunch with the FT: Dambisa Moyo" Archived 16 April 2016 at the Wayback Machine. Financial Times. 30 January 2009.
  70. ↑ Wallis, William. "Foreign aid critic spreads theory far and fast" Archived 28 November 2012 at the Wayback Machine. Financial Times. 23 May 2009.
  71. ↑ The New York Times Book Review: Print Hardcover Best Sellers. The New York Times. 6 March 2011.
  72. ↑ Collier, Paul. "How the West Was Lost by Dambisa Moyo – review" Archived 5 March 2017 at the Wayback Machine. The Observer. 16 January 2011.
  73. ↑ Vidal, John. "How the West Was Lost by Dambisa Moyo and Consumptionomics by Chandran Nair – review" Archived 5 March 2017 at the Wayback Machine. The Guardian. 26 February 2011.
  74. ↑ "How the West Was Lost by Dambisa Moyo – review | Business and finance books | The Guardian". amp.theguardian.com. Retrieved 28 May 2022.
  75. ↑ Beattie, Alan. "New world disorder" Archived 4 March 2011 at the Wayback Machine. Financial Times. 26 February 2011.
  76. ↑ "How the reader was lost". The Economist. 20 January 2011. Archived from the original on 24 January 2011. Retrieved 1 February 2011.
  77. ↑ How the West Was Lost by Dambisa Moyo - Ebook | Scribd.
  78. ↑ Winner Take All: China's Race for Resources and What It Means for the World Archived 28 May 2012 at the Wayback Machine. DambisaMoyo.com. Retrieved on 12 August 2012.
  79. ↑ Dambisa Moyo. Speakers Associates. Retrieved 3 June 2015.
  80. ↑ Best Sellers – Hardcover Nonfiction Archived 15 December 2014 at the Wayback Machine. The New York Times. 24 June 2012.
  81. ↑ Gapper, John. "China crunch" Archived 25 June 2012 at the Wayback Machine. Financial Times. 23 June 2012.
  82. ↑ Blair, David. "Winner Take All by Dambisa Moyo: review" Archived 10 November 2017 at the Wayback Machine. The Telegraph. 19 Jun 2012.
  83. 1 2 Plender, John (10 May 2021). "An exploration of the challenges facing today's boards". Financial Times.
  84. ↑ "Dambisa Moyo finds love in the US". Lusaka Times. 29 December 2020. Retrieved 29 December 2020.
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