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What do you think is responsible for the political and economic stagnation in many postcolonial states? - Essay Example

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What do you think is responsible for the political and economic stagnation in many postcolonial states?

Obtaining independence, many postcolonial states received an opportunity to transform their political and economic systems and improve the structure of the government and social life. Two processes have changed the political and economic map of the world and created new challenges and opportunities for enterprises in the periphery of the global economy. Legitimatization has mainly drawn on the prescriptions of neo-classical economics. Deregulation of domestic economic life, less state intervention in economic activities, and fewerobstacles to international trade: these are the main tenets of neo-liberal policy. Earlier experiments in free market economics have usually led to the revival of regulatory efforts in order to secure social and political stability and the continued legitimacy of the state. Failing this they have generated social revolutions or else 'free' markets have been maintained under the cover of armed dictatorship.The main agents responsible to the political and economic stagnation in postcolonial states are local political figures and state leaders concentrated on productivity issues and creation of wealth at the expense of local populations and exploitation of natural resources. Sandbrook & Barker (1995) and Tordoff (2002) state that African countries suffer from so called ‘neopatrimonialism’ or personal rule, promoted and introduced economic and political irrationalities in these postcolonial states. ...
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Obtaining independence,many postcolonial states received an opportunity to transform their political and economic systems and improve the structure of the government and social life.Two processes have changed the political and economic map of the world and created new challenges and opportunities for enterprises in the periphery of the global economy…
Author : revatromp
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