Sunday, August 5, 2012

Rebuttal to: The "Correction" of the Supposed "10 Economic Myths" about Capitalism


The development of modern capitalism in "western" nations has been accompanied by damaging consequences for Africa, as it has elsewhere, paving way to such destructive phenomena like the explosive and conflict-prone balkanization of Africa, ripping the continent off sizable chunks of its able-bodied workforce through the promotion and practice of slavery,  not leaving out brain-drain, disintegration of preexisting socio-cultural institutions [e.g. school systems, architectural concepts, dress codes, writing systems, preexisting trade networks, local industry, and the like] that had long served the peoples of the continent and replacing them with "western" counterparts/variants, thereby inducing people of the continent to become dependent on European economies, draining natural resources and compelling many localities on the continent to become net exporters of capital rather than net consumers of capital, rewriting history to serve the oppressors, and so forth. Since capitalism has had disastrous effects on the continent, it is only fitting to set some things straight about this system of economy.