By Issa G. Shivji
The "Washington consensus" which ushered in neo-liberal guidelines in Africa is over. It was once buried on the G20 assembly in London in early April, 2009. the realm capitalist method is in shambles. The champions of capitalism within the worldwide North are rewriting the foundations of the sport to reserve it. The hindrance creates a gap for the worldwide South, specifically Africa, to refuse to play the capitalist-imperialist video game, regardless of the ideas. it's time to reconsider and revisit the improvement course and methods at the continent. this can be the significant message of this intensely argued ebook. Issa Shivji demonstrates the necessity to return to the fundamentals of radical political economic climate and ask primary questions: who produces the society's surplus product, who appropriates and accumulates it and the way is that this performed. what's the personality of accumulation and what's the social organization of switch? The ebook offers another theoretical framework to aid African researchers and intellectuals to appreciate their societies larger and give a contribution in the direction of altering them within the curiosity of the operating humans.
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Extra info for Accumulation in an African periphery: a theoretical framework
Ihe scope of government must be limited . . '' (Quoted in ibid: 2 1 5 ), In one stroke, the neo-liberal prescription demolished the idea o f a developmental state in the South and a Keynesian interventionist state In the North. An unfettered free market docs not exist anywhere; it is the figment of a liberal's imagination. 23 Behind the invisible hand oi the marker lies the visible fist the scare, For to have a a n in visible b a n d of th e m a r k e t eye. he first experiment with neo-liberalism was in Chile under P inochets junta, which overthrew a popularly elected socialist president, Salvador Aliende, with the support o f Chilean business elites backed by the C IA and the US Secretary o f State Henry Kissinger.
In fact, in many ways the features he described have inrensi bed since bis days. Both export o f capital in search o f higher profits and export o f commodities (markets) lor realisation ol profits continues. W hile it is true that there are more capital and comm odity flows among developed countries o f the ccn rnc then between rbe centre and the periphery, they are o f a different kind. Capiral Hows among rbe countries o f the centre are more integrative - that is the process is one ol averaging out ol rates o f profit - while be tween the centre and periphery, capital flows arc much more in response to higher rates o f profit based on higher rates of surplus value (Mandel 1962:4154 et.
Ideologies o f self determ ijiati on, anti-dependency, national development and anti'imperialism held sway, a llo t which the USA characterised as 35 ‘com m unist' and rbercfore to he sup pressed averrly or covcrtly: En the periphery, state capitalisms of varied kinds were legitimised politically in the ideologies of state nationalism, socialism, and dcvcldpmcntalisiiL Although these were no: i direct challenge to capitalism, rhey did challenge the liberal notions of private property, private accumulation, and tree markets'-, thus invoking tbe wrath of Western imperialism, In this period; world economic hegemony was to be sought and established through multilateral agencies - the IMF, World Bank, G A I 1’ etc.