ModernGhanalogo

FEATURED: Why Are Black People Obsessed With The Bible That Was Used To Enslave ...

body-container-line-1
07.10.2019 Feature Article

Alexander Hamilton’s Credit System Is Necessary for Africa’s Development

Lawrence Freeman
OCT 7, 2019 FEATURE ARTICLE

Below is a half hour video presentation on the importance of Alexander Hamilton’s credit policy for the development of Africa. The forum was organized by Watch Democracy Grow, an organization promoting democracy and development in Africa, and was filmed Afrique Today.

As I discuss in the video and article below, African nations need long-term and low-interest lines of credit to finance trillions of dollars necessary for infrastructure projects across the continent. Government-backed authorities or the government itself can issued public credit in the amounts required. To provide credit for the newly united colonies, Hamilton designed the National Bank of the United States in 1791 at the request of President George Washington. It was a corner stone of the successful American System of Political Economy. Similar institutions are appropriate for African nations to finance vitally needed infrastructure today. Applying the Hamiltonian model, the Belt and Road Initiative, promoted by China, is helping Africa build and finance infrastructure that is essential for African nations to industrialize and expand their agriculture and manufacturing sectors.

Lawrence Freeman
Lawrence Freeman, © 2019

A Political-Economic Analyst for Africa and outspoken opponent of the current policies of neo-colonialism. Also a highly respected researcher, writer, and speaker on a variety of topics concerning Africa. Author column: LawrenceFreeman

Disclaimer: "The views/contents expressed in this article are the sole responsibility of the author(s) and do not neccessarily reflect those of Modern Ghana. Modern Ghana will not be responsible or liable for any inaccurate or incorrect statements contained in this article."

Reproduction is authorised provided the author's permission is granted.

body-container-line