Institute for Development Studies, University of Nairobi
Abstract
The purpose of this paper is to review the various concepts of
economic independence and to apply them to the African context. The two
classical concepts of economic independence embodied in the capitalist and
socialist systems are considered and contrasted with the notion of economic
independence as expressed in the developing countries. An attempt is
made to lend some precision to the latter concept.
The paper then surveys the historical roots of economic dependence
in the Third World, and relates various aspects of such dependence to the
diverse attempts being made to attain economic independence, The second
part of the paper is concerned with an analysis of the various strategies
for economic independence being pursued in African countries. Although
these cannot be categorised into any neat labels imported from the industrialized
countries, the main thrust of policies being pursued by African
countries to move towards economic independence can be described as predominantly
capitalistic or socialistic. The paper considers the strengths
and weaknesses of these strategies in the African context, given the objectives
of economic independence, rapid and sustained growth, and equitable
distribution of income and wealth
