Professor of Marketing in the School of Business & Entrepreneurship and interim Dean of the Graduate School, Chris Mbah, is a co-author of Commonomics: Rhetoric and Reality of the African Growth, a new work that critically examines the rhetoric of economic growth in sub-Saharan Africa.
The other contributors are Professors Jerry Kolo (American University of Sharjah) and Nnamdi Madichie (Bloomsbury Institute, London).
The professors argue that contrary to what reports constantly say about the SSA economy looking bright, the statistics often tell a different story. They noted that today, the largest economies in the region are chugging, resulting in alarming social, political, environmental side-effects.
The authors take a dig into recent history and posit that in sub-Saharan Africa’s development dilemma, Africans, with nostalgia about the good old days, have opined that, until the postcolonial era, the sub-region’s resource base enabled people to meet their basic needs cost-effectively.
The professors noted that the missing elements of Africa’s old economic models are being revived and embraced in an emerging grassroots economic model – Commonomics.
The book contends that the “Commonomics” narrative gaining support in the West is evidence that it is capable of facilitating development at the grassroots.
“Commonomics is a model of economics which centers ownership/control and shared dividends of means of production, such that people’s basic needs are met equitably, affordable and sustainably through collaborative grassroots initiatives”.
Reported by Togor Passa