The Impact of Global Capitalism on Economic Development in Nigeria PDF Download

Author: Tomiloba Olaniyi Quadri
Publisher:
ISBN:
Category : Capitalism
Languages : en
Pages : 55

View

Book Description
The topic of this research, the impact of global capitalism on economic development in Nigeria, sought to understand the role global capitalism has played in Nigeria’s economic development. Nigeria is presently considered a third-world country; however, researchers and economic observers expect that, based on the number of resources in the country, the standard of living of its citizens should be a lot better than it is currently. It is relevant to question why this is so, especially given that capitalism, which is so successful in many developed countries today, was introduced to Nigeria officially in 1986 by the World Bank through the structural adjustment plan. Through the scientific research process, this research examines why this is so and whether capitalism has aided or hindered development. While it is possible to argue that if Nigeria is underdeveloped today, capitalism has not done it any good, the country’s underdevelopment may not entirely be the fault of capitalism. Instead, it may have been caused by other intervening variables. This research examined the role of all those intervening variables in creating underdevelopment in Nigeria. Variables such as slavery, colonialism, and imperialism were examined to analyze their impact on the level of development in Nigeria. A neo-liberal view was also examined to balance the neo-Marxist view and other radical perspectives to understand Nigeria’s problems. Finally, internal factors such as corruption and conflicts were also examined to have an overview of the internal perspective of the problems of development in Nigeria. However, being the focus of this research, more critical analysis and data gathering was performed to examine the role of global capitalism on development in Nigeria. The literature review examined different contrasting opinions to understand where the debate lay on the topic at hand. Dependency theory was also introduced as the theoretical framework for analyzing the subject matter and interp

Author: John Sender
Publisher: Routledge
ISBN: 1136856722
Category : Business & Economics
Languages : en
Pages : 194

View

Book Description
First published in 1986, this work challenges underdevelopment analyses of Africa’s past experiences and future prospects, and builds upon a very wide range of recent historical research to argue that the impact of Capitalism has resulted in economic progress and significant improvements in living standards. In marked contrast to the dependency approach, they propose that the important political and economic differences between the experiences of developing countries should be stressed and analysed. The argument is supported by a detailed look at the emergence since 1900 of capitalist social relations of production in nine different countries.

Author: Fayyaz Baqir
Publisher: Taylor & Francis
ISBN: 1000396185
Category : Business & Economics
Languages : en
Pages : 239

View

Book Description
This book explores the causes and consequences of market failure in bridging societal differences to create a shared economy. It questions the current world order and evaluates socio-economic gains in reference to the social origins of the economic agents. With a need to counterbalance economic growth with social equality and environmental sustainability, the book proposes innovative approaches to address key questions on the contemporary global economy such as, "Is the Global socio-economic order supportive of the pursuit of rational and enlightened self -interest?", "Is it a unipolar power centre and neoliberal economic policy regime?", "Can the system reinvent itself?", etc. One approach encourages going back to the golden past and making things "great again", insisting that history has ended and the failures of old global institutions be blamed on the "Clash of Civilizations". Another approach advocates giving up the intellectual comfort zone of elegant but irrelevant neo-liberal explanations of global challenges and asking new questions that take academic debate to the public square. The book examines the internal challenges and contradictions that cause disintegration and proposes alternative ideas and practices in moving the global community beyond the free market regime. The book will appeal to students and academics of development studies, political economy, political science, sociology, as well as policymakers and public opinion makers interested in creating a new egalitarian global society.

Author: Sayre P. Schatz
Publisher: Univ of California Press
ISBN: 0520414926
Category : Business & Economics
Languages : en
Pages : 310

View

Book Description
Following a surge in oil revenues in the 1970s, Nigeria became one of Africa’s most rapidly developing nations. In Nigerian Capitalism, Sayre P. Schatz analyzes the country’s political economy, assessing its position and proposing a development plan for the final quarter of the twentieth century. Referring to Nigeria’s economic development strategy as "nurture-capitalism," Sayre contrasts the role of private enterprise, which is expected to foster growth of the productive sector of the economy, with the government’s role, which is to nurture the capitalist sector generally and to favor indigenous enterprise in particular. The author examines the development of Nigerian nurture-capitalism from 1949 to the launching of and early experience with the Third Plan (1975–80), with emphasis on the post-civil war 1970s. He then turns to an intensive study of indigenous business and possible impediments to the development of Nigerian private enterprise, analyzing the role of capital availability, entrepreneurship, and the economic environment. Sayre demonstrates that there are substantial divergences between private profitability and social utility and that there is an abundance of socially useful investment possibilities for indigenous businessmen. The author next turns to a study of the government business-assistance programs, and their economic, administrative, and political characteristics. Finally, he assesses the sources of successful investment and makes a case for enhanced socially useful investments. Comparing “pragmatic developmentalism,” “pragmatic socialism,” and “thoroughgoing socialism,” he proposes a pragmatic orientation that postpones ideological decisions as long as practicable. This title is part of UC Press's Voices Revived program, which commemorates University of California Press’s mission to seek out and cultivate the brightest minds and give them voice, reach, and impact. Drawing on a backlist dating to 1893, Voices Revived makes high-quality, peer-reviewed scholarship accessible once again using print-on-demand technology. This title was originally published in 1977.

Author: Leo Panitch
Publisher:
ISBN:
Category : Capitalism
Languages : en
Pages : 110

View

Book Description
This thoughtful reflection on capitalism, hegemony, and the United States addresses such questions as "What does imperialism mean today? How does the United States influence the rest of the world? and "What are the economic interests served by its domination? Explored is how the rise of the United States as a superpower brought an end to the old inter-imperial rivalries. Also discussed is the Bretton Woods system in the 1970s, and how American hegemony, far from being fundamentally challenged by the other advanced capitalist states, came to be reconstituted in the form of global neoliberalism. The challenges America faces in the future in nation building and shaping a global agency are also addressed.

Author: Ejike Udeogu
Publisher: Cambridge Scholars Publishing
ISBN: 1527522733
Category : Political Science
Languages : en
Pages : 198

View

Book Description
The inadequacies of many past studies that have tried to highlight the causes of the persistent underdevelopment in developing countries—such as Nigeria—have been noted to derive mainly from the focus and, in some cases, the methodologies adopted by the researchers. It has been suggested that, although many researchers recognize the inability to reproduce sufficient profit as undermining the capitalist accumulation process (and as a result the development of an economy), they have nevertheless often tended to ignore the importance of the political-economic arrangement and historical factors in the formation of expectations about the rate of profit. Indeed, in some cases, they have failed to provide a substantive account of these critical variables. This book highlights how the inherent contradictions of the contemporary political-economic arrangement and some historical factors undermined the peculiar capital accumulation processes in Nigeria, which, in turn, has slowed economic development in the country. This book contributes to the field of Nigeria studies by filling gaps that exist in both theoretical and empirical literature on growth and development in the country, deviating from the orthodox approach of analysing the nation’s problems purely based on the factors internal to the country and by imposing ready-made theoretical logics on history. Rather, it studies Nigeria’s problems in juxtaposition with the world system and imposes historical evidence on theoretical logics. This book represents a good resource for both undergraduate and postgraduate courses on area studies. Researchers and policy-makers will also find it useful as a reference.

Author: National Intelligence Council
Publisher: Cosimo Reports
ISBN: 9781646794973
Category :
Languages : en
Pages : 158

View

Book Description
"The ongoing COVID-19 pandemic marks the most significant, singular global disruption since World War II, with health, economic, political, and security implications that will ripple for years to come." -Global Trends 2040 (2021) Global Trends 2040-A More Contested World (2021), released by the US National Intelligence Council, is the latest report in its series of reports starting in 1997 about megatrends and the world's future. This report, strongly influenced by the COVID-19 pandemic, paints a bleak picture of the future and describes a contested, fragmented and turbulent world. It specifically discusses the four main trends that will shape tomorrow's world: - Demographics-by 2040, 1.4 billion people will be added mostly in Africa and South Asia. - Economics-increased government debt and concentrated economic power will escalate problems for the poor and middleclass. - Climate-a hotter world will increase water, food, and health insecurity. - Technology-the emergence of new technologies could both solve and cause problems for human life. Students of trends, policymakers, entrepreneurs, academics, journalists and anyone eager for a glimpse into the next decades, will find this report, with colored graphs, essential reading.

Author: Jonathan Haskel
Publisher: Princeton University Press
ISBN: 0691183295
Category : Business & Economics
Languages : en
Pages : 292

View

Book Description
Early in the twenty-first century, a quiet revolution occurred. For the first time, the major developed economies began to invest more in intangible assets, like design, branding, and software, than in tangible assets, like machinery, buildings, and computers. For all sorts of businesses, the ability to deploy assets that one can neither see nor touch is increasingly the main source of long-term success. But this is not just a familiar story of the so-called new economy. Capitalism without Capital shows that the growing importance of intangible assets has also played a role in some of the larger economic changes of the past decade, including the growth in economic inequality and the stagnation of productivity. Jonathan Haskel and Stian Westlake explore the unusual economic characteristics of intangible investment and discuss how an economy rich in intangibles is fundamentally different from one based on tangibles. Capitalism without Capital concludes by outlining how managers, investors, and policymakers can exploit the characteristics of an intangible age to grow their businesses, portfolios, and economies.

Author: Gumede, Vusi
Publisher: Africa Institute of South Africa
ISBN: 0798305207
Category : Social Science
Languages : en
Pages : 321

View

Book Description
This book addresses a fundamental developmental challenge for Africa: given all that we know about pertinent issues, what should be done to ensure effective development in Africa? The changing imperatives of international development, the reform of international finance institutions and the growth-development nexus debates as well as varied implications for Africa emanating from global economic crises are critical if Africa’s development is to be better understood. Undoubtedly, revisiting the origins, contexts, complexities and contradictions of the lopsided global order and their effects on development and implications for Africa’s development is necessary. Contributions emphasise the need to radically transform global relations and to accelerate the pursuit of our quest for inclusive development in Africa; acknowledging that we must further problematise Africa’s development in the context of the obtaining global power dynamics and systematically examine the implications of the global economic crises for women as well as for land and agrarian reforms. The book is a timely contribution to our understanding of the global realities confronting Africa, with specific suggestions on how to improve development.

Author: Immanuel Maurice Wallerstein
Publisher: Oxford University Press
ISBN: 0199330859
Category : Business & Economics
Languages : en
Pages : 199

View

Book Description
In Does Capitalism Have a Future?, the prominent theorist Georgi Derleugian has gathered together a quintet of eminent macrosociologists to assess whether the capitalist system can survive.