Property rights. Property rights. Property rights. This is what African nations need. This idea of government lead development will not work. Infrastructure spending is needed ONLY if there is commerce. It is not the case of "build it and they will come." Commerce has to already exist, but it's stifled in Africa because of rampant government corruption. There is no respect for individual property rights.
People need to understand that free markets aren't Africa's problem. Africa needs more market reforms to move out of poverty. It's that these market reforms need to be worked out by African countries themselves. The IMF and World Bank operate as central planners in Africa. This is why Africans need to move away from the IMF's and World Bank's version of market reforms and implement their own reforms.
Hold on here, r they saying what China is doing with Africa is the right way to do things? Cause China is build infrastructure in Africa in exchange for their resources, it seems to me what he is saying is they rather do business with China then the IMF
Good to see countries breaking away from the foolish ideology of the IMF. Now hopefully the people will have equal input into the development. This could be a model for the USA and UK to follow.The fact that the IMF inhibits growth can be seen in the success of China.
Hahh invest 1,000 $ for 9% interest ? sounds like another 'Nigerian scam'. Most workers barely make enough money as it is to survive , good luck ever recovering that money
I don't know. I think Ndikumana has done some brilliant analysis in the past on African capital flight etc, but i'm not fully on side with his ideas here. The idea that African governments should be mainly concerned with infrastructure is an old world bank idea. The infrastructure bonds are a good idea though.
@atosafi1 Well that welfare state model is in transition in Europe. Not just because of the recent financial crisis but because of changing demographics which is affecting the tax revenue needed to fund those welfare states. I wouldn't be so stuck to keynesian thinking. So far the results have been mixed as far as it's ability to move America out of the recession. America is also taking on alot of debt following Keynes.
Property rights. Property rights. Property rights. This is what African nations need. This idea of government lead development will not work. Infrastructure spending is needed ONLY if there is commerce. It is not the case of "build it and they will come." Commerce has to already exist, but it's stifled in Africa because of rampant government corruption. There is no respect for individual property rights.
People need to understand that free markets aren't Africa's problem. Africa needs more market reforms to move out of poverty. It's that these market reforms need to be worked out by African countries themselves. The IMF and World Bank operate as central planners in Africa. This is why Africans need to move away from the IMF's and World Bank's version of market reforms and implement their own reforms.
@Afrikanglobal This is so true! That IS what should be done. As soon as Possible!!!
Hold on here, r they saying what China is doing with Africa is the right way to do things? Cause China is build infrastructure in Africa in exchange for their resources, it seems to me what he is saying is they rather do business with China then the IMF
Good to see countries breaking away from the foolish ideology of the IMF. Now hopefully the people will have equal input into the development. This could be a model for the USA and UK to follow.The fact that the IMF inhibits growth can be seen in the success of China.
Hahh invest 1,000 $ for 9% interest ? sounds like another 'Nigerian scam'. Most workers barely make enough money as it is to survive , good luck ever recovering that money
I don't know. I think Ndikumana has done some brilliant analysis in the past on African capital flight etc, but i'm not fully on side with his ideas here. The idea that African governments should be mainly concerned with infrastructure is an old world bank idea. The infrastructure bonds are a good idea though.
The people will lift themselves out of poverty if they work together and if they dismantle the unjust systems that exploit them.
blackiron60
Couldn't agree with you more.
You need #GlassSteagall #Larouches4Laws #AIIB
great video
@atosafi1
Well that welfare state model is in transition in Europe. Not just because of the recent financial crisis but because of changing demographics which is affecting the tax revenue needed to fund those welfare states. I wouldn't be so stuck to keynesian thinking. So far the results have been mixed as far as it's ability to move America out of the recession. America is also taking on alot of debt following Keynes.
Good
bob must really like you