Entrepreneurial Revolution for the African Third World: The Case of Ghana

Abstract

ABSTRACT The current economic crisis in the predominantly poor countries of Sub-Saharan Africa has increasingly raised doubts about the aptness of development theory, the relevance of foreign politico-economic ideologies and the prudence and effectuality of post-independence policies in these countries. In this paper, the author acknowledges the pragmatism of a human-focused economic strategy. He stresses the urgency for an entrepreneurial revolution—the means of creating a climate congenial and sensitive to the overriding human want for expression, creativity and involvement as well as for the maximum exploitation and development of available resources—to achieve rapid economic recovery, growth and development. While experiences in the Ghanaian political economy are examined in some detail, the practical implications of this approach for Ghana are also analysed.