African #philosophers must create new #development model for continent
Africa needs to create a new development model that better connects its #businesses with local #communities in order to escape the current system which has left as it burdened by high unemployment and underdevelopment.
Current development models are a product of #colonization and were designed to extract its #resources with the bulk of the value realized abroad, Hippolyte #Fofack, a former chief #economist and director of #research at the African Export-Import Bank, is a research associate at the #Harvard #University Center for African Studies says in a research paper.
“Connecting with #history and bridging the philosophical and #cultural discontinuity between Africa’s past and present is fundamental to closing the #gap between actual output and potential and setting the region on the #path to lasting #prosperity,” he says. “More than any other region of the world, political and economic management in Africa has been underpinned by a highly extroverted model of institutional #governance, by #institutional models that are largely alien.” ...