Economic Sectors – Not Complementary
Economic Sectors – Not Complementary
No agreement today, no agreement tomorrow – Fela Kuti
Capable societies are those that have enforceable institutions of public value, while incapable societies lack them at national and local levels. Such nations are mainly in the Global North. It is easy to identify nations in the Global South as incapable of such enforcement. Public value can be economic or social. Accordingly, incapable societies cannot create public value by themselves. They can only extract it and thus live on dependency. If they have mineral riches, they become rentier states. Otherwise, they stand as highly indebted nations ever seeking technical help. Surviving on begging bowl economics. (more…)