Send the link below via email or IMCopy
Present to your audienceStart remote presentation
- Invited audience members will follow you as you navigate and present
- People invited to a presentation do not need a Prezi account
- This link expires 10 minutes after you close the presentation
- A maximum of 30 users can follow your presentation
- Learn more about this feature in our knowledge base article
Neo-Liberalism in Kenya
Transcript of Neo-Liberalism in Kenya
The Debt Crisis
1970s & 1980s
1973- OPEC embargoed oil exports to US, Europe, & Japan
1979- Again, embargo on oil
-increase in world price in oil
-First World went into recession
-Third World also affected by raise in energy costs & reduced demand for products
More loans given by private banks needing to invest money from OPEC countries
1979- First World raises interest rates
Third World countries couldn't repay previous WB and private bank loans...
revenues from sales of commodities used to pay off debts, rather than fuel industrial development. Forced to cut investment and social expenditure.
Tanzania, Sudan, Zambia—100% of export earnings used to service debt.
By 1982, Mexico, Argentina, & Brazil announced inability to repay old loans
Donor agencies like WB relegated basic needs projects to secondary status, and devoted energy to trying to recover old debts.
Role of the State
Role of the Market
neo-liberalism won-- philosophy of free market, no state intervention
WB- Structural Adjustment Loans
IMF- Structural Adjustment Programs
1. reduction of public spending (social programs, food subsidies)
2. currency devaluation
3. privatization of state enterprises (industry, water, electricity, phones)
4. reduction of wages to attract foreign investors
5. reduce export prices
6. trade liberalization (eliminate restrictions on imports)
What were the effects?
-food prices went up, wages went down
-energy, water, etc left to market pricing
-reduced purchasing power
UNICEF and UN Commission for Africa reports that adjustment largely the cause of reduced health, nutritional, and educational levels across Asia, Latin America, and Africa..
--debt repayment 20% of GDP
--debt repayment 30% of GDP
--suspended aid programs in 1991
--liberalization in 1993
1997-- refuses to meet IMF conditions
--IMF suspends funding for 3 years
--questions of "good governance" & corruption
Post-colonial African State is characterised by:
Explanations for State failure:
Bayart & Mbembe -- suggest that the situation is more complicated...
--rooted in African political history and practices
--Bayart-- political leaders know what they are doing and have to be seen as agents, rather than passive victims
-continuity of ruling groups
-use of symbolic and material goods of the state to enrich private enterprises
-politics of the belly
politics of the belly--
---form of governmentality that constitutes the African state as "rush of spoils" carried out through competitive patrimonial networks.
---system of protection and support between patron & client
--distribution of goods/services to kin members or home-town (based on obligation)
--distribution of goods/services to political supporters (system of obligating)
politics of the belly--
--spoken about through idioms of consumption
i.e. 'chopping' the state
What does development mean for the Taita?
What is the relationship between witchcraft & development discussed in chapter 4? What explanations for economic failure are given? What social tensions are experienced based on gender & generation?
What is the relationship between witchcraft & development discussed in chapter 6? What relationship do NGOs have with the State?