Critiques of Liberal and Neo-Liberal Arguments in Africa: More Emphasis in Ethiopia: A Systematic Review

Abstract

Economic liberalism which was founded by Adam Smith is the base for the former liberalism ideology. Through time the present neo-liberalism and capitalist economic system evolved within the liberalism ideology of promoting private ownership of properties and free market for economic development. In this review article, we present the arguments and critiques of liberal and neo-liberal theories to African development more emphasis in Ethiopia. Either in the liberal or neo liberal ideologies believes that government is the second actor on the economy and the market can operate by itself. But for Africa these ideologies are not working because, in Africa still there is not well structure political and economic system. In addition, the market is not still institutionalized enough and there is slow development of infrastructures. Africa cou

ntries should contextualize the liberalism and neo liberalism model of development with the prevailing institutional, social, cultural and political history that every country had internally.

Keywords: Liberalism; Neo-liberalism; Argument; critiques; Africa; Ethiopia

DOI: 10.7176/JESD/10-13-05

Publication date:July 31^st 2020