Abstract
Overall economic theories from Western laboratories had made much impact in the world until more recently where the foundation of this system is under scrutiny, more specifically, the re-definition of money and its function. Great writings from Ibn Khaldun, Adam Smith, Karl Marx, Joseph Stiglitz and Umer Chapra have added much to the body of knowledge and economic development at large. Economic development theories from modern Africa are thus sorted – tailored in achieving economic development in Africa, yet, applicable to every region of the world. These models are centered on Lessem and Schieffer’s moral economic core, while spreading its tentacles, aimed at achieving not just market and state coordination, but also spiritual and people coordination designed to attain poverty reduction. Ultimately, the transformational institution is cast – Centre for Integral Socio-Economic Research (CiSER) where agents of innovation are set loose.
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