The purpose of this paper is to evaluate critically the narrative that the informal economy in Africa has no place within the framework of economic development. Considered as a…
Abstract
Purpose
The purpose of this paper is to evaluate critically the narrative that the informal economy in Africa has no place within the framework of economic development. Considered as a sign of “backwardness”, “traditionalism” and “underdevelopment”, the informal economy in Africa has persistently grown notwithstanding Africa’s economic destabilisation through the adoption of neo-liberal economic interventions and free-market policies. This paper argues that the informal economy cannot be marginalised at the fringes of economic development, in the construction of a holistic development pathway.
Design/methodology/approach
The methodological basis is discourse analysis.
Findings
The outcome is a call to re-think and open up the feasibility, and possibilities for, alternative economic futures beyond free-market capitalism.
Originality/value
This paper makes a critical consideration on one of the multiple narratives that continue to inform economic policy making in Africa, by contesting and deconstructing its basis in order to encourage a pluralistic approach and understanding.
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Keywords
Abdoulie Sallah and Colin C. Williams
This paper aims to evaluate critically the meta‐narrative that there is no alternative to capitalism. Building upon an emerging body of post‐structuralist thought that has begun…
Abstract
Purpose
This paper aims to evaluate critically the meta‐narrative that there is no alternative to capitalism. Building upon an emerging body of post‐structuralist thought that has begun deconstructing this discourse in relation to western economies and post‐Soviet societies, this paper further extends this critique to Sub‐Saharan Africa by investigating the degree to which people in the Gambia rely on the capitalist market economy for their livelihood. Reporting the results of 80 household face‐to‐face interviews (involving over 500 people), the finding is that only a small minority of households in contemporary Gambian society rely on the formal market economy alone to secure their livelihood and that the vast majority depend on a plurality of market and non‐market economic practices. The outcome is a call to re‐think the lived practices of economic transition in Sub‐Saharan Africa in general and the Gambia in particular, so as to open up the feasibility of, and possibilities for, alternative economic futures beyond capitalist hegemony.
Design/methodology/approach
Some 80 households (involving over 500 people) were interviewed face‐to‐face on their livelihood coping strategies.
Findings
Reporting the results of 80 household face‐to‐face interviews (involving over 500 people), the finding is that only a small minority of households in contemporary Gambian society rely on the formal market economy alone to secure their livelihood and that the vast majority depend on a plurality of market and non‐market economic practices.
Practical implications
The outcome is a call to re‐think the lived practices of economic transition in Sub‐Saharan Africa in general and the Gambia in particular, so as to open up the feasibility of, and possibilities for, alternative economic futures beyond capitalist hegemony.
Originality/value
This research gives us an empirical understanding of the implications of lived experiences of people's day‐to‐day livelihood coping strategies, which refutes the capitalist's thesis and calls of a re‐think on economic and sustainable development policies and strategies in Sub‐Saharan Africa
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Olugbenga Adesida and Geci Karuri‐Sebina
This editorial aims to summarize the outcome of the Special Issue exploration on the theme “Is Africa the land of the future?”.
Abstract
Purpose
This editorial aims to summarize the outcome of the Special Issue exploration on the theme “Is Africa the land of the future?”.
Design/methodology/approach
The paper contextualises and synthesizes the set of Africa‐themed foresight papers included in the journal issue.
Findings
The exploration concludes that Africa faces a range of internal and external opportunities and challenges. These are historical, geopolitical, economic, demographic, psychological, and intellectual. Key drivers and analyses identified by seven authors are briefly presented.
Research limitations/implications
The restricted number of papers that could be included in the single issue required a narrow selection from a large set of good papers and subject coverage. The issue and editorial therefore only address a few of the key drivers, in addition to some broad, foundational issues.
Practical implications
Neither mere optimism nor pessimism will determine Africa's ultimate trajectory. Concerted ownership, foresight and collective action by Africa's leaders and followers are the key to positive futures for the continent.
Originality/value
The Special Issue is a unique contemporary African foresight contribution, which aims to provide a deeper understanding of the emerging challenges and opportunities for the continent.