Entrepreneurship is more than just an economic term — it is a way of thinking. Creating jobs, empowering people and giving individuals access to better lives is certainly a development goal which all countries aspire to. But while South Africa has embraced the rhetoric, it has yet to create the economic ecosystem necessary for entrepreneurship to thrive.
Donald Trump says he is a devotee, born again, his Christian conversion claimed through the James Dobson ministry. As a committed Christian he is bringing his private beliefs (how strong the man’s faith is, who can tell?) into the workplace. He is stacking his cabinet with a range of faith first, science second quacks, a move that in the face of Climate Change is an assault on all of mankind.
The so-called middle class appears to be a “muddling class”. Rigorously explored differentiation remains largely absent – not to mention any substantial class analysis. Fortunately, though, the debate has created sufficient awareness among scholars to explore the fact and fiction of the assumed transformative power of a middle class.
As the World Bank and the International Monetary Fund (IMF) hold their Spring meetings in Washington, DC, billions of dollars due to African nations are illicitly leaving the continent.
Some arguments made today on why Africa cannot catch up with the West were also made 100 years ago when Africa was under European colonization, with the colonizers blaming everything but imperialism as the root cause of underdevelopment. The world economic structure has not changed, no matter the rhetoric of globalization. Africa remains semi-colonial: increasingly dependent on developed countries for overvalued manufactured goods while exporting raw materials at prices determined by commodity markets in the West.
While inequality has become a topic of increased popularity and politicization in recent years, most of the attention has focused on how 1% own an increasingly large share of the world’s wealth, rather than on inequalities between nations. In a global context in which national borders and citizenship pose few barriers to the mobility of capital, the reality is also a story of the world’s richest nations continuing to reap a disproportionate amount of the globe’s profits.
Tagged under Labour & Political Economy Inequality, Poverty, Walter Rodney, Underdevelopment