African governments have great lessons to learn from the just concluded 11th IAAF World Championships in Athletics in Osaka (Japan) as well as the ongoing Barclays Premier League.  

Any game requires rules as well as a referee to enforce the rules. The referee, in the case of the market, is the government. In the absence of rules and referee, even if the team is very good, there is bound to be confusion.

Referees, at times, influence the outcome of a game by unfairly awarding penalties that make a team in their favor win. In soccer, they sometimes ignore “offside” and give red cards unfairly. Such circumstances hinder the best team from reaching the league finals, consequently presenting an ill prepared team that is no match to one that would have won on merit.

When the government is planner, developer and builder, its role as the regulator becomes secondary and partisan. When it gives special treatment to some businesses at the expense of others, the economic game is messed. When it persistently awards “red cards” to those it does not favor, a poor team is presented to the market. There ought to be a balance of power between business and government. The government should ensure that the market remains truly competitive, fair and free. Markets are more efficient when there exists a stable legal environment respecting private property rights, enforcing those rights and contracts, and observing rule of law.