Richard Boudreaux of the Los Angeles Times describes The Seeds of Promise:
Migrants have been sending money home, in one form or another, for centuries. But only recently have economists recognized its significance. Today, remittances are the largest, fastest-growing and most reliable source of income for developing countries. Poor nations reported $167 billion in receipts from overseas workers last year, according to the World Bank, more than all foreign aid. Including unrecorded transactions, the bank estimates that the total exceeded $250 billion.This giant transfer of wealth crisscrosses the Earth in millions of trickles, a few hundred dollars at a time, sent by workers who have assumed much of the burden of Third World development. Their remittances — private aid from the poor to the poorer — offer a rare chance to accumulate savings; invest in schooling, housing or a small business; and rise into the middle class.