Next to Asia, Africa is the world’s second largest continent. It is also the second-most populous continent. As of 2018, it is home to 16% of the world’s total human population. In 2012, the median age for the whole continent was 19.7. Thus, its population is the youngest among the continents. Africa is home to fifty-four countries, two disputed territories, and five external territories. It is a continent with a long history. One of the cradles of civilization can be found here, in the form of Ancient Egypt as well as the early human society of Carthage. The large and diverse number of ethnicities, cultures, and languages are the result of a long and complex history of many civilizations. Starting in the 16th Century, Africa witnessed an increasing European influence. The Trans-Atlantic slave trade that also began during this time created a large African diaspora population in the Americas. In the 19th Century, Europe almost colonized all of Africa, with Ethiopia and Liberia the only countries believed to have never been occupied. The current existing countries are the result of the mass decolonization in the 20th Century.
When one thinks of Africa, it usually is about its biodiversity and wide range of natural resources. Ironically, despite this, Africa is the least wealthy continent per Capita. This is because of the lasting effect of the Scramble for Africa that happened in the 19th Century. These effects have left Africa dependent on colonial powers even after it was mostly decolonized at the end of World War II. Enter the African Association for Evolutionary Economics (AAFEE). Founded by Samuel Enajite Enajero Ph.D., It aims to introduce alternative economic models to the continent for its betterment.
Evolutionary Economics
Evolutionary economics is a theory proposing that the economic process is dynamic. It is a theory that believes that the economy’s behavior depends on the individuals and the whole society. It was a theory first coined by American economist and sociologist Thorstein Veblen.
Unlike traditional economics, which puts forth rational choice, evolutionary economics instead argues that psychological factors are some of the critical drivers of the economy. It suggests that it is the people, the family structure, and the community that drives the economy. It is different in that, unlike traditional economics, believes that wealth will “trickle down” and that as long as the top is stable, so will the bottom line; instead, for evolutionary economics, it is these same lower or bottom lines that will dictate the wealth of the overall. This makes it so that, as stated before, in evolutionary economics, the economy is dynamic. It is chaotic and ever-changing.
For believers of evolutionary economics, they believe that failure is a good thing. For them, it is just as important as success. They think that by failing, countries and entities (such as companies and corporations) learn essential lessons. This failure can act as a catalyst for them to find more efficient ways or to develop and improve their products and services. Hence, the entity or country must need to evolve in order to remain competitive.
Evolutionary economics theory also posits that history plays a critical role in a country’s current economic health. It believes that the past will affect the present, and the present will determine the future. How does this apply to Africa? Well, we have to remember that Africa had a tumultuous past. The Scramble for Africa had left it so that it was divided into multiple territories that were colonized by different European nations. These European nations were not always at peace with each other, so this chaos made the economic situation of the whole continent a chaotic one despite being part of the same continent.
As such, for the African continent to develop, it must unite and collectivize. Dr. Samuel Enajite Enajero believes that Africa only has to look at its neighboring continents of Asia to see how this works. Asia, specifically in the Southeast Asia region, lies the Association of Southeast Asian Nations. It is not as different from Africa. It is home to diverse cultures, religions, and different languages. It was no surprise that when ASEAN was first born, people believed that it was destined to fail. However, despite all odds, the founding countries of Indonesia, Malaysia, the Philippines, Singapore, and Thailand, as well as the member countries of Brunei, Cambodia, Lao PDR, Myanmar, and Vietnam, still continued to communicate with each other and formed a somewhat collective group that is globally competitive.
In the end, will evolutionary economics work in Africa? Only if they try it. Time will tell.
Oliver’s Twist 