Economic Development in Africa

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Probably more than anything else, Africa is known by the stereotypes many people around the world have about the 'Dark Continent'. But Africa is also a strange paradox. It is the richest continent in the world. Yet it is also the poorest. Its potential wealth is enormous, unrivalled anywhere else in the world. So why so much poverty in the midst of such abundance? The answer lies in the wrong policies and imported ideologies, good intentions notwithstanding, African countries pursued since independence during the sixties. However, with the collapse of communism during the late eighties and early nineties, came a rude awakening. The impoverished African nations were forced to re-evaluate their policies and ideological underpinnings which had failed to sustain one of their ideological 'mentors' -- the Soviet Union and her satellites. This ground-breaking book provides analyses of capitalism versus socialism as well as case studies illuminating the latest economic developments in the shift taking place in Africa. The case studies were selected because of their relevance to the entire continent.

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