EconPapers    
Economics at your fingertips  
 

Neoliberal Globalisation, Financial And Economic Crises and Sustainable Development In Africa

Richard Ingwe, Chibueze C. C. Ikeji and Felix E. Ojong

The IUP Journal of Governance and Public Policy, 2010, vol. V, issue 4, 31-62

Abstract: – The global financial economic crises of 2007-08 were the most serious of the previous series of similar cataclysmic events that exposed the deficiencies in the global neoliberal capitalism. Perversion of neoliberal literature by dogmatism, fragmented disciplinary myopia, instead of plural approaches hampers understanding of neoliberalism’s multidimensional characteristics, thereby allowing it to wreck serial havoc globally. In this paper, we show how the global North has used neoliberalism to contrive multiple crises that hamper Africa’s sustainable development beyond previous traumas: unequal trade, trans-Atlantic slavery, and colonialism; present neoliberal perspectives, globalisation-hegemonisation; and, show how neoliberalism’s autonomisation, self-referencing, disembedding of finance, its rejection of Keynesian and Marxist principles of hierarchy of (multiple) markets make it asocial, crisis (e.g., unemployment)-prone in Africa and developing countries. The Africa Union presents a platform for Africa to resuscitate Pan-Africanism, joining of the global South’s movement towards socialism as a means of delinking her economy from insidious neoliberal-capitalism, accelerating local job creation, reversing scandalous emigration of her youth to subsidise the global North’s economies.

Date: 2010
References: Add references at CitEc
Citations View citations in EconPapers (1) Track citations by RSS feed

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:icf:icfjgp:v:05:y:2010:i:3:p:31-62

Access Statistics for this article

More articles in The IUP Journal of Governance and Public Policy from IUP Publications
Series data maintained by G R K Murty ().

 
Page updated 2017-09-29
Handle: RePEc:icf:icfjgp:v:05:y:2010:i:3:p:31-62