Adam Smith: starting where it matters because of our colonial legacy.

Adam Smith: starting where it matters because of our colonial legacy.

Adam Smith in a long-form called his book: An Inquiry Into the Nature and Causes of the Wealth of Nations. At that time many nations were poor and few rich. And the rich wanted to get rich by exploiting the poor. This was the beginning of real capitalism-where a few eat 80 per cent of a nation or world production and the poor gets only 20 per cent although they produce 80 per cent.

If he were to come back once again or if Africa is lucky to have its own Adam Smith today the title will definitely change to: "An Inquiry Into the Nature and Causes of the Poverty of African Nations.

This should also be a good starting point for our 'rational dialog.' or as I have called my blog: 'Keep on Talking Economics.'

Of course we are not interested in poverty, but rather interested to see it gradually disappear...forever! We are interested in prosperity, happiness and being a health continent in every manner of the word.

Mzee Adam Smith gave some ideas of how we could have a prosperous, healthy and happy Africa.

At this point of time let me say there is no way I am hinting that the list provided by Mzee Adam Smith covers all and everything. No. Actually, what he has done is to give us a point of departure in our inquiry. As we proceed along we may even be able to come up with a brand of economic theories called African Original Economic Theories, dare you?

According to Adam Smith we can say 'goodbye' to poverty and economic backwardness if we can:i. Increase the quantities of resources available;ii. Discover and apply new technologies iii. Increase the division of labor and specialization iv. Improve the allocation of existing resources v. Increase the rate of use of existing resources

Dear AEEN members we can learn economics in a variety of ways. However, since we are also supposed to be teachers of our readers and listeners and viewers-I suppose the best way could [am not saying must] be the practical approach to the study of economics. Because after all, no one of us does not belong to the economy and economics......

These five suggestions from Mzee Adam Smith can actually be used as FORUM TOPICS for the next five years, especially, if each member will tackle it at his or country's level and then we have opportunity to share and exchange ideas in the future:Could we, therefore, use that approach to look, for istance, how Africa has failed to utilize or increase quantity of resources available for production, distribution and consumption?

Perhaps having a schedule like this:
2008 How can African countries Increase the quantities of resources available;
2009 Discovery of new technologies and Africa's war against poverty
2010 Division of labor and specialization and Africa's economic development
2011 Improvement of the allocation of existing resources for further growth and development in Africa
2012 Increasing the rate of use of existing resources and Africa's development.

This work can start long before the conferences and by the time the forum are held African leaders and bureacrats should have read one or two things and apply them to change their nation's fortune. At the forum, therefore, some countries will be held as examples, congratulated and motivated to achieve even still more.

Since we shall work with China, Japan, Korea, India-the East in short; as well as US and EU we are bound to have a lot of helpful advice as well as tangible support too!

Can our H's and W's in investigative and research-oriented journalism be abpplied here: How, What, Where, When, Why and Who?-in a manner capable of ensuring that as we go along we are writing the future applied economics textbooks for Africa-that will be corrected, updated and edited by all those who want to contribute to PRO-AFRICAN POOR ECONOMICS - that is non-IMF/WB DRIVEN AFRICAN ECONOMICS?

Am also interested in fusing Adam Smith, Confucius and Original African Economics.....let see this may be the next article.

I am open to any approach but perhaps we could divide the discussions into three areas so that those who have material and like to talk in each of the areas do so with leisure:

i. PRE-INDEPENDENCE AFRICAN ECONOMICS:-historical analysis of the nature and causes of Africa's poverty-[may be our kindness, generosity, slavery,colonialism and the likes]

ii. POST-INDEPENDENCE AFRICAN ECONOMICS:-Fifty years of independence and our performance in tackling poverty and backwardness of Africa.[Debts of independence, gratitude to the father of the nation(s), overpoliticizatiion, overdecentralization, copycating, living above our means, mismanagement, nepotism, favoritism, cronnism,ignorance, greed,tribalism, racism, being used by former rulers and the likes].

iii. CONTEMPORARY AFRICAN OR POST-CHINESE SUCCESS AFRICAN ECONOMICS:-Globalization, Economic Integration, Rising new super powers and Africa war against poverty.[ As the situation reigns now-why relationship with former masters did not help us, market status, cultural factors, language factors, looking East?, playing the super powers against one another, where do we stand, what is our vision and mission as a continent?]

Sammy
Dar es salaam.

Sammy Makilla
P.O.Box 11337
Dar es Salaam.
TANZANIA
EAST AFRICA

Tel: +255-22-2807303
Mob: +255-732-928534
URL: www.teknohama.com