The Failure of African Socialism
In this video, George Ayittey talks about the failure of Africa’s experiments with socialism throughout the 20th century.
George Ayittey is a Ghanian economist and the founder and president of the Free Africa Foundation. He also taught economics at American University and is an associate scholar at the Foreign Policy Research Institute.
In this video from a San Francisco Libertarian Party event in 1989, Ayittey talks about the failure of Africa’s experiments with socialism throughout the 20th century. He tells stories about the inefficiency, waste, and bureaucratic corruption in countries like Ghana, Tanzania, and Zimbabwe, and says that wrangling Africa’s political class is of paramount importance when it comes to African development.