%0 Journal Article
%T Africa's Incorporation into the World Capitalist System: The Substantive Features and Issues
%A Ajayi
%A T.
%J International Journal of Economic Development Research and Investment
%D 2011
%I International Centre for Integrated Development Research
%X In the last decade of the 20th century, African scholars and patriotic leaders of the continent kept vigil and hoped for remarkable changes in the political economy of African States through what was popularly called the New International Economic Order (N.I.E.O). Similarly, in the first ten years of the new millennium, Africans waited eagerly for positive and favourable changes in the operational philosophy of the World Trade Organization (WTO), General Agreement on Trade and Tariffs (GATT) and International Labour Organization (ILO). These faithful years produced very little to excite or meet the aspirations of the developing nations. The question then is: have these cosmetic amendments really affected the economic fortunes of African States which were incorporated into the lowest rung of the world capitalist system? Can we say that the progress of countries like India, China, Malaysia and Indonesia from the under developed world into the class of fully industrialized nations, reflect the liberal changes to the operations of the world capitalist system? At any rate, an examination of the major features and substantive issues which still dominate the political economy of African States (of the 21st century) would clearly show if the developed nations of the north have removed the structural impediments and operational obstacles preventing Africa from deriving commensurate benefits from global capitalist system. Herein lays the motivation or essence of this study Africa¡¯s Incorporation into the world capitalist system: the substantive features and issues.
%K Capitalist system
%K Africa's incorporation
%K substantive features
%U http://www.icidr.org/ijedri_vol2%20nos3_dec2011/Africas%20Incorporation%20into%20the%20World%20Capitalist%20System%20The%20Substantive%20Features%20and%20Issues.pdf