UpAndComing
Veteran
- Started with the feeling at the time and the concerted effort to "Rid all vestiges of Colonialism". And in their mind Capitalism was the culprit. So instead they embraced Marxist Socialism, which was adopted by nearly all newly independent countries in the 1950s
- Their goal was the "Government to have complete ownership of the Economy by the State". They banned all commercial activities not approved by the Government
THE RESULTS
- Food shortages
- Black Markets
- Poverty
- State Enterprises failing to reach targets
- In Ghana only 4 out of 64 Government enterprises were financially self sustaining
- Government run enterprises became money making machines for corrupt officials
- In the Republic of Guinea, went from being a huge Exporter of food before Independence, to being a huge Importer of food after adopting Marxism
- In Nigeria, they built an $80 Billion steel mill that never opened and has never produced even one ounce of steel. And they continue till this day to raise money for this steel mill
- In Tanzania, in 1981 there was a mass Food Starvation. They had to import multi million tons of grain for the starving people
- In Zimbabwe, food shortages became rampant and the cost of living rose. Inflation rate raised to 2,000,000%, Unemployment rate 80%
- Author George Ayittey of the book "Defeating Dictators" explained that in the reign of the Marxist Socialist governments: there bribes for Commercial licenses, No incentives to deliver economic progress, huge monopolies were created, No innovation with no competition, etc. It also created a Dependency Mentality, looking to Government and Messianic leaders for the solution to every problem
Europeans knew, in order to keep the Africans dependent on them, teach them Marxism/Socialism. They knew adoption of Capitalism would make these countries completely independent of the European powers. That way with Socialism, the corrupt officials and presidents will be puppets and be able to steal profits back to Europe. DIABOLICAL
