Re-reading the narrative of the informal economy in the context of economic development in sub-Saharan Africa

2016 ◽  
Vol 43 (10) ◽  
pp. 1063-1078 ◽  
Author(s):  
Abdoulie Sallah
Keyword(s):  
Economic Development ◽  
Informal Economy ◽  
Free Market ◽  
Sub Saharan Africa ◽  
Content Type ◽  
Free Market Capitalism ◽  
Pluralistic Approach ◽  
Sub Saharan ◽  
Market Capitalism ◽  
Critical Consideration

Purpose The purpose of this paper is to evaluate critically the narrative that the informal economy in Africa has no place within the framework of economic development. Considered as a sign of “backwardness”, “traditionalism” and “underdevelopment”, the informal economy in Africa has persistently grown notwithstanding Africa’s economic destabilisation through the adoption of neo-liberal economic interventions and free-market policies. This paper argues that the informal economy cannot be marginalised at the fringes of economic development, in the construction of a holistic development pathway. Design/methodology/approach The methodological basis is discourse analysis. Findings The outcome is a call to re-think and open up the feasibility, and possibilities for, alternative economic futures beyond free-market capitalism. Originality/value This paper makes a critical consideration on one of the multiple narratives that continue to inform economic policy making in Africa, by contesting and deconstructing its basis in order to encourage a pluralistic approach and understanding.

Giovanni Arrighi in Beijing: An Alternative to Capitalism?

2010 ◽  
Vol 18 (1) ◽  
pp. 74-87 ◽  
Author(s):  
Leo Panitch
Keyword(s):  
Economic Development ◽  
Free Market ◽  
Adam Smith ◽  
Historical Sociology ◽  
Market Society ◽  
World State ◽  
The Us ◽  
Free Market Capitalism ◽  
Chinese Capitalism ◽  
Market Capitalism

AbstractGiovanni Arrighi made a remarkably broad-ranging and original contribution to comparative political economy and historical sociology over five decades. His last book shares these qualities. But Adam Smith in Beijing is unfortunately not mainly about the origins and dynamics of Chinese capitalism over the past three decades. It presents Adam Smith not as the apostle of free-market capitalism, but rather of a ‘non-capitalist market society’; and it uses this to make the case that since China’s economic development takes place outside the European/North American capitalist ‘core’, it must, almost by definition, not be capitalist. Markets are conceived here as the instruments of states, yet the theory of the state advanced is severely undeveloped. Arrighi’s argument that China’s economic development is part and parcel of the demise of the US project for establishing itself as the ‘world state’ misinterprets the nature of the US empire as well as misses the extent of China’s integration with US-led capitalist globalisation.

RECOGNIZING THE CONTRIBUTION OF FEMALE ENTREPRENEURS IN ECONOMIC DEVELOPMENT IN SUB-SAHARAN AFRICA: SOME EVIDENCE FROM GHANA

2015 ◽  
Vol 20 (01) ◽  
pp. 1550003 ◽  
Author(s):  
KWAME ADOM
Keyword(s):  
Economic Development ◽  
Informal Economy ◽  
Research Question ◽  
Sub Saharan Africa ◽  
Female Entrepreneurship ◽  
Female Entrepreneurs ◽  
Main Research ◽  
Face To Face ◽  
Multiple Case ◽  
Sub Saharan

In recent decades, female entrepreneurs have been seen to contribute to the economic development of nations especially in developing countries. Until now the contribution of female entrepreneurs to economic development in sub-Saharan Africa (SSA) has been relegated to the background or ignored in development circles. Part of the reason is because female entrepreneurs mainly work in the informal economy and are necessity driven and marginalized. The main research question the study poses is 'what is the contribution of female entrepreneurs to socio-economic development in SSA?' This paper seeks to answer this by examining critically the contribution of female entrepreneurs from Ghana as a means to achieve economic development. The study employs a qualitative approach using multiple case study design. To examine female entrepreneurship, a 2014 survey involving face-to-face interviews of 60 female entrepreneurs from Accra in Ghana is analyzed. The key finding is that, although male entrepreneurs contribute significantly more to economic development than their female counterparts, there remains untapped potential for female entrepreneurs becoming key players for achieving economic development. This and other findings of the study have some implications for policy on female entrepreneurship. Therefore, there is a call to harness these potentials through policies that would promote female entrepreneurship on an equal wavelength as their male counterparts. This is the first known study of female entrepreneurship as a catalyst for economic development in Ghana.

Islamic social business for sustainable development and subjective wellbeing

2015 ◽  
Vol 8 (4) ◽  
pp. 491-507 ◽  
Author(s):  
Necati Aydin
Keyword(s):  
Business Model ◽  
Free Market ◽  
Moral Economy ◽  
Well Being ◽  
Subjective Well Being ◽  
Social Business ◽  
Content Type ◽  
The Social ◽  
Free Market Capitalism ◽  
Market Capitalism

Purpose – The purpose of this paper is to report that the social business model has emerged to mitigate the failure of free-market capitalism driven by self-interest in creating social value. It shows how social business contradicts with free-market capitalism while being compatible with Islamic moral economy due to the axiomatic differences between the two economic systems. Design/methodology/approach – The paper follows conceptual, axiomatic and theoretical approach to show how the social business model contradicts with free-market capitalism, but is compatible with Islamic moral economy. The paper provides a theoretical framework for Islamic social business based on an Islamic human and social development perspective. The paper first discusses the failure of free-market capitalism and the emergence of social business in the capitalist system. It then defines Islamic social business and lays out its axiomatic foundation based on the Islamic worldview. It also presents Islamic financial instruments and funds for social business. Finally, it makes a case for sustainable socioeconomic development and subjective well-being within the Islamic development paradigm. Findings – The paper shows that a cosmetic change to capitalism is not sufficient for enabling the social business model to take the main stage in the free-market system. There is a need for a new paradigm of reality, truth, telos and human nature to support social business. Tawhidi paradigm can be such alternative. The paper makes a strong case for social business from an Islamic worldview. Particularly, certain economic axioms within the Tawhidi anthropology, teleology and axiology provide intrinsic causes for pursuing such business model. The multi-dimensional nature of humans from the Tawhidi anthropology sets the intrinsic foundation for social business. Indeed, although the social business model is new to the West, it has been practiced in certain forms in the Muslim world throughout history. Zakat, sadaqah, and qard hasan can be used to support social business in addition to some Islamic banking instruments. The paper suggests that Muslim countries should embrace the social business model for sustainable development and greater subjective well-being. Research limitations/implications – The paper is purely theoretical. Future studies might shed light on the issue through empirical evidence. Practical implications – The paper is likely to enhance the interest in social business in the Muslim world. Social implications – The paper has potential to lead the creation of social value through dissemination of the social business model. Originality/value – The paper contributes the Islamic moral economy doctrine by making a strong case for Islamic social business.

Free market madness and human nature

Humanomics ◽  
2015 ◽  
Vol 31 (1) ◽  
pp. 88-103 ◽  
Author(s):  
Necati Aydin
Keyword(s):  
Financial Crisis ◽  
Human Nature ◽  
Free Market ◽  
2008 Financial Crisis ◽  
Content Type ◽  
Comprehensive Theory ◽  
Free Market Capitalism ◽  
The 2008 Financial Crisis ◽  
Theory Of Human Nature ◽  
Market Capitalism

Purpose – This paper aims to discuss the crises of free market capitalism in terms of its understanding of human nature. It reveals how recent market madness can be attributed to certain elements of human nature. Design/methodology/approach – The paper uses a conceptual and philosophical approach to analyze crises of free market capitalism. It links both success and failure of capitalism to its understanding of human nature. It compares and contrasts economic assumptions of human nature in conventional and Islamic economics. It attempts to explain the 2008 financial crisis through a comprehensive theory of human nature. Findings – It sheds some light on the irrational aspect of human nature as the driving factor behind the 2008 financial crisis. It elaborates on the importance of knowing self for knowing human decisions in free market economy. It concludes with the need for a comprehensive theory of human nature to predict and prevent irrational and irresponsible behaviors of populist politicians, greedy capitalists and conspicuous consumers. The paper also reflects on the 2013 Nobel Prize in economics as a victory for the study of human nature. Originality/value – The paper offers a new perspective to understand crises of free market capitalism.

Spirituality and subjective wellbeing

Humanomics ◽  
2017 ◽  
Vol 33 (3) ◽  
pp. 300-314 ◽  
Author(s):  
Necati Aydin
Keyword(s):  
Consumer Culture ◽  
Subjective Wellbeing ◽  
Free Market ◽  
Moral Economy ◽  
Material Consumption ◽  
Content Type ◽  
Happy Life ◽  
Means And Ends ◽  
Free Market Capitalism ◽  
Market Capitalism

Purpose This paper aims to compare free market capitalism and Islamic moral economy in terms of corresponding means and ends for a happy life. The paper reveals that global consumer culture is the inevitable outcome of secularization. As people pursue fulfillment with worldly possession, position and pleasure, they mistakenly think that higher material consumption would result in higher subjective wellbeing. Muslims are increasingly joining consumer culture because they are affected by global consumerism. The paper attempts to show that Islam has a potential to curb unsustainable consumer culture. Design/methodology/approach The paper explores a relationship between consumer culture and free market capitalism. It presents Islamic way of happiness as an alternative to hedonic happiness which is promoted by global consumer culture. It defines happiness as fulfillment in life through the realization of God and pursuit of His pleasure by finding transcendental meaning for having, being and doing. Findings The paper concludes that the Islamic way to happiness is different from hedonic happiness which leads to conspicuous consumption. It argues that once internalized, Islamic worldview would make possible to achieve a higher level of happiness without engaging in higher material consumption. It maintains that authentic happiness from an Islamic perspective is not the maximization of pleasure through indulging in consumer culture. Rather it is the fulfillment of heart and other faculties through remembrance (seeing the transcendental reality of the universe and the self) of God. Submission to God and living to gain His pleasure are the logical implications of such realization. Originality/value The paper reveals how consumer culture brings less happiness through more consumption, while Islam offers more happiness through less consumption.

SOCIAL BUSINESSES AS A TOOL AND APPROACH FOR YOUTH DEVELOPMENT IN SUB-SAHARAN AFRICA

2017 ◽  
Vol 26 (1) ◽  
pp. 55-73
Author(s):  
Grey Magaiza ◽  
Elsa Crause
Keyword(s):  
Social Work ◽  
Youth Development ◽  
Free Market ◽  
Sub Saharan Africa ◽  
Policy Makers ◽  
Demographic Transitions ◽  
Livelihood Options ◽  
Free Market Capitalism ◽  
New Methodologies ◽  
Sub Saharan

Demographic transitions in sub-Saharan Africa, characterised by a youth bulge, are contextually enabling for social work professionals to investigate new methodologies of youth development. Social business is a suggested innovation of youth development with the capacity to strengthen existing social work strategies and interventions. This paper highlights the discourse on social businesses as viable development tools and approaches capable of impacting positively on youth development. Furthermore, the highlighted connections between social businesses and social work professionals may galvanise the profession to become involved in social businesses. The involvement of social work may expand the scope of community development strategies critical to tapping into the social capacities of youth. We argue that social businesses are an asset based approach representing a human face that social work can broker among communities, industry and policy makers, harnessing humanised free market capitalism to foster inclusion and expansion of livelihood options for young people.

The Legacy of Iraq

2015 ◽  
Keyword(s):  
Middle East ◽  
Liberal Democracy ◽  
Iraq War ◽  
Free Market ◽  
Political Elite ◽  
Islamic State ◽  
Sequence Of Events ◽  
The World ◽  
Free Market Capitalism ◽  
Market Capitalism

This book critically reflects on the failure of the 2003 intervention to turn Iraq into a liberal democracy, underpinned by free-market capitalism, its citizens free to live in peace and prosperity. The book argues that mistakes made by the coalition and the Iraqi political elite set a sequence of events in motion that have had devastating consequences for Iraq, the Middle East and for the rest of the world. Today, as the nation faces perhaps its greatest challenge in the wake of the devastating advance of the Islamic State of Iraq and Syria (ISIS) and another US-led coalition undertakes renewed military action in Iraq, understanding the complex and difficult legacies of the 2003 war could not be more urgent. Ignoring the legacies of the Iraq War and denying their connection to contemporary events could mean that vital lessons are ignored and the same mistakes made again.

scholarly journals Implications of Governance, Natural Resources, and Security Threats on Economic Development: Evidence from Sub-Saharan Africa

2021 ◽  
Vol 18 (12) ◽  
pp. 6236
Author(s):  
Husam Rjoub ◽  
Chuka Uzoma Ifediora ◽  
Jamiu Adetola Odugbesan ◽  
Benneth Chiemelie Iloka ◽  
João Xavier Rita ◽  
...  
Keyword(s):  
Economic Development ◽  
Natural Resources ◽  
Causal Effect ◽  
Sub Saharan Africa ◽  
Security Threats ◽  
African Countries ◽  
Significance Level ◽  
Long Run ◽  
Short Run ◽  
Sub Saharan

Sub-Saharan African countries are known to be bedeviled with some challenges hindering the economic development. Meanwhile, some of these issues have not been exhaustively investigated in the context of the region. Thus, this study aimed at investigating the implications of government effectiveness, availability of natural resources, and security threats on the regions’ economic development. Yearly data, spanning from 2007 to 2020, was converted from low frequency (yearly) to high frequency (quarterly) and utilized. Data analysis was conducted using Dynamic heterogeneous panel level estimators (PMG and CS-ARDL). Findings show that while PMG estimator confirms a long-run causal effect of governance, natural resources, and security threats on economic development, only natural resources show a short-run causal effect with economic development, while the CS-ARDL (model 2) confirms the significance of all the variables both in the long and short-run. Moreover, the ECT coefficients for both models were found to be statistically significant at less than 1% significance level, which indicates that the systems return back to equilibrium in case of a shock that causes disequilibrium, and in addition, reveals a stable long-run cointegration among the variables in the model. Finally, this study suggests that the policy makers in SSA countries should place more emphasis on improving governance, managing security challenges, and effectively utilizing rents from the natural resources, as all these have severe implications for the economic development of the region if not addressed.

Cross-cultural communication imperatives

2018 ◽  
Vol 14 (2/3) ◽  
pp. 170-187 ◽  
Author(s):  
James Baba Abugre
Keyword(s):  
Business Environment ◽  
Cross Cultural ◽  
Sub Saharan Africa ◽  
Work Outcomes ◽  
Cultural Communication ◽  
Global Business ◽  
Content Type ◽  
Local Staff ◽  
Cross Cultural Communication ◽  
Sub Saharan

Purpose Given the rising expansion of Western multinational companies (MNCs) to the African contexts, the development of expatriates and local employees has become increasingly important to the human resource management of these MNCs. This paper aims to provide critical lessons on cross-cultural communication competences for Western expatriates working in the sub-Saharan Africa business environment. Design/methodology/approach This paper is a qualitative phenomenology that makes use of lived experiences of senior expatriate staff working in Ghana in the form of direct interviews. Findings Results showed that cross-cultural communication competence is very important for Western expatriates’ functioning in sub-Saharan Africa. The findings also established a plethora of cross-cultural communication skills that are essential for Western expatriates’ successful adaptation and work outcomes in Africa. Practical implications This research argues that there is the need for the appreciations of the differing cultural patterns of expatriates and local staff, and this provides the underlying assumptions of intercultural and cross-cultural communication in global business. Originality/value A critical perspective of international business that has scarcely been studied offers lessons for Western expatriates working in sub-Saharan Africa.

A comparison of global suicide terrorism by region before and after 9/11 terrorist attacks

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Ahmet Guler ◽  
Mustafa Demir
Keyword(s):  
Time Series ◽  
Interrupted Time Series ◽  
Sub Saharan Africa ◽  
Terrorist Attacks ◽  
Suicide Terrorism ◽  
Content Type ◽  
The World ◽  
Before And After ◽  
Sub Saharan ◽  
Global Terrorism Database

Purpose This study aims to examine the effect of the 9/11 terrorist attacks on suicide terrorism in different regions of the world and changes in the trends in suicide terrorism according to regions before and after 9/11. Design/methodology/approach Using the data obtained from the Global Terrorism Database from 1981 to 2019, the descriptive statistics were computed first and then, independent samples t-tests were run to compare the monthly mean percentage of suicide-terrorism incidents that occurred in each region between the pre-9/11 and the post-9/11 periods. Finally, to statistically assess the effect of the 9/11 attacks and changes in the trends for the dependent variables over time, monthly interrupted time-series analyzes were conducted. Findings The results of monthly interrupted time series analyzes showed that after the 9/11 attacks, the trends for suicide-terrorism rates decreased significantly in three regions including South Asia, the Middle East and North Africa and Europe, while the trend for suicide-terrorism rates increased significantly in Sub-Saharan Africa. However, no statistically significant changes in the trends in suicide-terrorism rates occurred in three regions including North America, East Asia and Central Asia and Southeast Asia before 9/11, during November 2001 or after 9/11. Originality/value This study indicates the critical importance of the 9/11 terrorist attacks in suicide terrorism and its impact on these events in different regions of the world. The research also provides some recommendations concerning the effectiveness of defensive and offensive counterterrorism policies against suicide terrorism.

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