Which economic policies exist in the global south that could hinder or retard sustainable economic development where does the weakness lies with these policies?
The design of the monetary system Kgotso Michael Sesedi is nowhere supporting the economic policy of sustainable growth, i.e. the global south, despite official propaganda, has imitated all monetary techniques (e.g. central banking) that were formerly only limited to the classical countries of the industrial capitalist model.
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THERE have been three great inventions since the beginning of time: fire, the wheel and central banking, quipped Will Rogers, an American humorist.
The first recorded reference in English to a “central bank” was in 1873 by Walter Bagehot, then editor of The Economist, who used it to refer to a bank with a monopoly on the issue of bank notes, and its headquarters in a nation's capital
Central banks' original task was not to conduct monetary policy or support the banking system, but to finance government spending. The world's oldest central bank, the Bank of Sweden, was established in 1668 largely as a vehicle to finance military spending. The Bank of England was created in 1694 to fund a war with France.
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If Karl Marx would be alive today, he would be working for a bank. Banks have reached a state of communist perfection. Many in banking seem not to have noticed that they recently brought the world economy to its knees.
To be fair, the banks are not alone in their mistakes.
In his “Manifesto of the Communist Party” (1848), published together with Frederick Engels, Karl Marx calls for “measures” — Marx’s measure number five reads: “Centralisation of credit in the hands of the state, by means of a national bank with State capital and an exclusive monopoly.” This is a rather perspicacious postulation, especially as at the time when Marx formulated it, precious metals — gold and silver in particular — served as money.
So those favoring a free society can only hope that something will get in the way of central bank politburo theory.
Conclusion:
What truly matters are ideas or theories, if you will, as ideas — whatever their specific content, wherever they come from, whether they are right or wrong — underlie and drive human action !
La politique économique basée sur l'exportation des matières premières et de l'assistance financière économique extérieur sapent le développement des pays du Sud.
Les faiblesses sont liées à : non maîtrise des échanges extérieurs sur les valeurs réelles des produits exportés, et les assistances économiques qui sont régulièrement assorties de conditionnalités ne permettent pas aux pays d'épargner pour réinvestir dans les secteurs structurants, porteurs de développement et créateurs d'emplois
I think it's more about the system. In general, in global south there is still a dualistic economy, ofc this is an obstacle because it causes the productivity of various productive activities to be very low and efforts to make changes are very limited. Furthermore, the most vulnerable are obstacles in the form of social and technological dualism which greatly influence market mechanisms so that available resources are not used effectively and efficiently. Kgotso Michael Sesedi
Le Burkina Faso, mon pays est résolument tourné vers la transformation des matières premières pour plus de rentabilité. Ce qui ouvre des perspectives d'emplois pour les populations sur rurales et crée du même coup des regroupements en terme de chaîne des valeurs sur certaines filières : production - transformation - commercialisation
Souleymane Zorome I can't read and understand the language you used, can you kindly use English so that I can be able to read your answer and learn from you.
Kind regards
KMS
My country, Burkina Faso, is resolutely focused on processing raw materials for greater profitability. This opens up new employment prospects for rural populations, and at the same time creates value chain groupings in certain sectors: production - processing - marketing.
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