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This article surveys the broad array of arguments addressing the lack of progress made in third-world development over the course of the last fifty years. During this period of time, financial aid given by the world's industrial nations to developing countries became a practice that was seen as both economically & morally demanded. However, in the years that have since elapsed, there has been an increasing volume of critical attention paid to the imbalance between the amount of funding given & the amount of development accomplished. It is at this juncture that the lack of necessary internal conditions in developing counties becomes apparent. Analysis has not only demonstrated that a large portion of funding made to third-world countries becomes subject to abuse by controlling powers, but has also suggested that foreign aid might actually contribute to the imbalance of power in the said recipient countries. Some of the many perspectives that comprise the growing argument against the notion of foreign aid as a viable policy are presented here to illustrate the increasingly clear reality of failed development in the third world. 4 Tables, 20 References. C. Brunski