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Spring 2012

ISSN 0890-913X

Volume 27, Number 2

Categories: Economics | Spring 2012

Promoting Economic Freedom in Africa

George Ayittey, Free Africa Foundation

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TheJournalofPrivateEnterprise27(2),2012,1–18PromotingEconomicFreedominAfricaGeorgeAyitteyFreeAfricaFoundationAbstractAfricaispoorbecauseitisnotfree.Itisthemostun-freecontinentintheworld.Only10ofthe54Africancountriescanbeclassifiedaseconomicsuccessstories.EffortstopromoteeconomicfreedominAfricahavefailedduetoresistancefromtheleadership,ChineseforaysintoAfrica,andadherencetoaflawedWashingtonConsensusapproach.ProgresscanbemadebybeginningwithintellectualandinstitutionalreformbeforeeconomicliberalizationaswellasrestoringAfrica’srichheritageoffreevillagemarkets,freetrade,andfreeenterprise.JELCodes:P16,P42,P51Keywords:Economicliberalization;Socialism;Statism;“Chopsticksmercantilism”;Hippogeneration;SequenceofreformI.IntroductionAfrica,consistingof54countries,istheleastdevelopedregionoftheThirdWorlddespiteitsimmensewealthinmineralandnaturalresources.Namethemineral,andmostlikely,itcanbefoundinAfrica.Yet,thecontinentismiredinpoverty.ThisshouldnotsurpriseanyonebecauseAfricaisthemosteconomicallyun-freecontinent.AccordingtotheHeritageFoundationofWashington,D.C.,andtheFraserInstituteofVancouver,Canada:"Individualsareeconomicallyfreeifpropertythattheyhavelegallyacquiredisprotectedfrominvasionsorintrusionsbyothers,andiftheyarefreetouse,exchangeorgiveawaytheirpropertysolongastheiractionsdonotviolateotherpeople'ssimilarrights"(Economist,1996,p.21).Economicfreedomdoesnotexistwhenagovernmentarbitrarilycanconfiscateprivateproperty(residentialorcommercial);conscriptindividualsformilitaryserviceorforcedlabor;dictatepricesatwhichcommoditiesmaybesoldandpurchased;restrictaccessintocertainoccupations,economicsectors,andmarkets;prohibittheproductionandconsumptionofcertaincommoditiesandservices;andevenimposeonitscitizenstheuseofacurrencyrenderedworthlessby1

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Title	Promoting Economic Freedom in Africa
Authors/Creators:	George Ayittey, Free Africa Foundation
Year:	2012
Volume:	27
Number:	2
Pages:	1 - 18
Publisher:	The Association of Private Enterprise Education
ISSN:	0890-913X
Document Type:	Articles
Keywords:	Economic liberalization, Socialism, Statism, Chopsticks mercantilism, Hippo generation, Sequence of reform

Citation:
Ayittey, George / 2012. "Promoting Economic Freedom in Africa." The Journal of Private Enterprise, 27(2): 1-18.