When borders don't matter: development and global culture - North and South, rich and poor - Africa's dilemma
10 important questions on When borders don't matter: development and global culture - North and South, rich and poor - Africa's dilemma
What strengthened calls for independence in Africa?
What did Africa's colonial overlords fail in?
What economic policy did independent African colonies choose?
- African leaders, like their Indian counterparts, were wary of freewheeling capitalism. Convinced that government was fitted to supervise development on behalf of the population, leaders such as Kwame Nkrumah of Ghana, Jomo Kenyatta of Kenya, and Julius Nyerere of Tanzania erected socialist alternatives to the exploitative free-market capitalism of the defunct colonial regimes.
- Agreeing with Western development economists, they argued that central governments alone could marshal the requisite human and fiscal resources to transform an economic landscape that for decades had been exploited by Europeans whose only interest was profit.
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How did new African countries try to grow economically?
- In most new African countries, public marketing boards were charged with buying domestic agricultural and mineral products at set prices and selling these products overseas.
- The goal was to increase export earnings during periods of high demand, and in turn to use part of these earnings to cushion the blow for peasant producers when international demand slackened.
What went wrong in "African socialism"?
How did Nasser and Nkrumah sought to finance economic development?
When did conditions worsen for African countries?
- Conditions worsened for most African countries when the price of oil escalated in the 1970s.
- Oil-producing countries such as Nigeria, Libya, and Algeria gained a short-term advantage from the increases, but the world recession undermined demand for other export commodities, and numerous countries found themselves unable to continue established development initiatives.
What did the Organization of African Unity (OAU) attempt?
- In the midst of this unfolding catastrophe, the Organization of African Unity (OAU) attempted to rally the member states of the UN to support the adoption of what the OAU called a New International Economic Order.
- Emerging out of the 1973 annual meeting of the OAU and informed by development economics, member states appealed to the world's wealthiest nations to reduce their tariffs against products from the developing world and establish fixed commodity prices, forgive existing Third World debt, and provide a massive increase in total development aid.
What economic measure was taken in the 1970s?
- During the 1970s, a number of regional economic cooperation units were established in sub-Saharan Africa.
- They were designed after the model of the EEC and sought to free the member states from their dependency on the developed West.
What harmed the development of African countries?
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