Self Interest: The Engine of Economic Development

Published on 6th March 2007

One factor that is impeding Africa’s development is the belief that other nations will always act in her best interests. It is not uncommon to find dilapidated roads, unequipped health centers and other grand proposals waiting for donor ‘kickstarting.’

Most governments in Africa continue to rely on assistance from rich nations to meet their MDGs budget. During the  Seventh Session of the World Social Forum, various activists lambasted rich nations for failing to live up to their promise of dedicating 0.7 per cent of their Gross National Income to poverty reduction in poor nations and called for a creation of a world where ‘those who have must give’ to those who don’t have. 

But as Libyan leader Colonel Muammar Gaddafi rightly observes; the world is controlled and driven by relentless powers that wield economic and military might to exert dominance and benefit from nations they relate with. Recognition of this fact, says Gaddafi, has improved Libya’s relations with the world. Controversial as this might seem; it offers great lessons for the continent.


This article has been read 2,686 times
COMMENTS