The Economics of Exploitation In Africa

Global capital and its comprador elites within Africa have systematically plundered and ruined the continent before and after independence Even now the average income of Africans is lower than it was in the 1960s and if one applies the necessary correctives to GDP tallies and many African nations have been losing per capita income as the result of foreign investment Moreover And neoliberal programmes of privatization and monetarism have made the poor worse and worse off and without leading to any significant improvement in growth or development Combine this with the massive theft of African production by local dictators and foreign multinationals the extreme monoculture production of many African nations and the unfair trade practices in agriculture on the part of Western nations (in particular the EU)


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