Africonomics - A History of Western Ignorance - E-book - ePub

The West does not understand African economics. In a fearless, funny polemic, a historian exposes the blinkered assumptions of centuries of Western interventions on the continent. We need to think differently about African economics. For centuries, Westerners have tried to 'fix' African economies. From the abolition of slavery onwards, missionaries, philanthropists, development economists and NGOs have arrived on the continent, full of good intentions and bad ideas.
Their experiments have invariably gone awry, to the great surprise of all involved. In this short, bold story of Western economic thought about Africa, historian Bronwen Everill argues that these interventions fail because they start from a misguided premise: that African economies just need to be more like the West. Ignoring Africa's own traditions of economic thought, Europeans and Americans assumed a set of universal economic laws that could be applied anywhere.
They enforced specifically Western ideas about growth, wealth, debt, unemployment, inflation, women's work and more, and used Western metrics to find African countries wanting. The West does not know better than African nations how an economy should be run. By laying bare the myths and realities of our tangled economic history, Africonomics moves from Western ignorance to African knowledge.