Commentary: Evaluating The Socio-economic Philosophy Of Africa

WRITTEN BY NONSO OGUNO

In the annals of human history, man has evolved economically from primitive to communist age. Sequel to the renaissance period and the industrial revolution that projected capitalist ideology; capitalism became successful. Many countries embraced its principles, but not too long, the flaws of capitalism ensued, which became so visible in the social disparity and inequality.
The gulf between different classes in the society was so significant, the rise and the influence of the elite was separable on the workers. The material life of the people was vested on these capitalists. The general character of the social, political cum spiritual process of life was determined by this group of wealthy people that are in total control of the mode of production.
There was monopoly. The society did not decide what to produce; the only drive for production was for profit instead of social services. The need for production was not necessarily to satisfy societal needs, rather for these individuals. There were exploitation and poverty amongst the lower class.
This turn of social condition aroused the consciousness of certain individuals in that era, including Karl Marx, who pitched a fault in the system. He understudied socialism in Europe as a substitute to capitalism from countries like France, as a tool to fight off Capitalism. He proceeded to other parts of Europe to advance this socialist course, which later culminated into communism. The success of this economic principle in managing the economy of a society attracted many other countries around the world, including Russia.
However, this beautiful bride is yet to find its footings in most African enclaves. The poverty index in this part of the continent cannot be exaggerated. The clamour for a better society in the countries of Africa is untold, yet the unconscious pursuit for the advancement of capitalism is overwhelming. In Nigeria, change of policies from indigenization policy to privatization shows a roller-coaster effort to ensure prosperity in developing the economy of the country.
In this 21st century, there must be a concerted effort from institutions to rid the system from undemocratic ideologies. Therefore, emerging political institutions, such as political parties, should enshrine this socialist principle in their party ideologies because of its democratic nature as well as strive to advance its processes for economic growth.
Despite the dynamics of the Nigeria society, there is need for this system in the management of the common wealth for socio-economic, political and spiritual prosperity and advancement. A look at our behavourial pattern today reveals that the people had been an object of exploitation for long and as such have developed a self-survival instinct with this capitalist mentality as a defense which had become the socio-economic psychology of the society.
They are skeptic of the necessary evil of socialism because these elites and crony capitalists have co-opted the unsuspecting public into their counter political cum economic movement against the government. As a result, they counter virtually every government socio-economic policies because of the wrath capitalism have done to their minds and the very fabrics of the society.
Another age-old force fighting against socialism in modern day democracy of the world is the elites or the Monopolists, thus the capitalists themselves. This group of individuals has formed a cartel within the society in order to shortchange the people for further enrichment and clout. They wield much economic and political power, and because of the actions of this cartel, the society is being drained of its moral values and standards, thereby the need for social rejuvenation.
Furthermore, for overall success of socialism, the will of the judiciary must be abreast with that of the executives to ensure a quicker dispensation of justice on the violators of the rule of law, as seen in various economic crimes cases.
A top down approach must therefore be followed. It is also necessary that countries of Africa understand this economic philosophy and the implications of the economic forces affecting it.