BUILDING ALTERNATIVES FOR SOCIAL AND ECONOMIC JUSTICE

Globally, since early 1980s, economic development has been characterized by a mismatch between economic growth and social development as evidenced by income disparity, violation of human rights, social inequality and exclusion even in countries with high economic growth performance. This experience has been worse in Africa where 33 of the 48 Least Developed Countries are found. This mode of growth which doesn’t translate into inclusive development and decent livelihoods for majority of the populace has been largely as a result of   the neoliberal development paradigm. The paradigm which, to date, is dominant in informing the development agenda, policies and practices especially in Africa and the global South advocates for liberalization, privatization and deregulation, with minimal State intervention.  .

Furthermore, the results of the neo-liberal agenda have been largely disappointing, mostly for Africa. The neoliberal Agenda has led to the rise of powerful economic actors including corporations, investors, private financial actors and development finance institutions   who are influencing trade, fiscal and related policies, and setting the development agenda and narrative in their favor.  This has negatively impacted on Africa’s prospects for structural transformation and inclusive sustainable development, Human rights and environmental sustainability. All these factors are related and mutually reinforce development challenges on the continent amidst the escalating indebtedness and financial stress; Increase in unemployment especially for women, youth (for young people currently estimated at 60%) and climate change. Read More

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