Financialisation, Capital Accumulation and Economic Development : A Theoretical and Empirical Investigation of the Nigerian Economy

The primary focus of this study is to highlight those unobtrusive, yet fundamental, factors undermining economic development in Nigeria. To begin with, it posits that the decelerating pace of capital accumulation in Nigeria, which naturally occasions rising unemployment and poverty levels, and widening inequality gap, is the result of the ‘low possibility’ of capitalist enterprises in the country of earning an adequate rate of profit from their productive processes. In turn, the ‘low possibility’ is argued to be the result of the uneven development inherent in the modern capitalist structure, the high cost of capital and of production peculiar to Nigeria, and the ineffective demand for goods made in Nigeria: these elements are viewed as been precipitated by the contradictions of the contemporary political-economic arrangement that organises the Social Structures of Accumulation. For Nigeria to ‘develop’, it is contended that the unobtrusive elements inherent in the contradiction of the political-economic economic that undermine the capitalists’ ability to earn a commensurate rate of profit in the country needs to be fully addressed first. Furthermore, this study suggests that it is crucial the country embraces knowledge-based industrialisation if it is to achieve some form of ‘competitive advantage’ in the global market, which could enable its productive processes extract a commensurate level of profit from the market. To facilitate the knowledge-based industrialisation, the state should, not only create a conducive environment for industrial development but also play the lead role in transforming the peripheral and oil dependent economy to a knowledge-based economy by coordinating business organisations and investing in high-risk innovations.

Coping with emotional labour in tennis coaching

A tennis coach works in a social environment, employed in a service based economy with the outcome of client-customer interactions significantly impacting on the consumer experience. Research conducted outside of sport has shown that positive affective displays during interactions, which in a tennis situation may include providing support through displays of warmth, empathy, positivity and compassion as the client attempts to master a new technique, have shown positive associations with customer satisfaction. Hochschild (1983) coined the term ‘emotional labour’ to describe the process of, and demands resulting from adjusting one’s demeanour, language and tone during social encounters in a planned and strategic manner in order to facilitate a positive outcome. Hochschild proposed that individuals in jobs which require a high degree of face-to-face interaction with the public are particularly at risk of experiencing potentially deleterious effects that result from dealing with emotional labour demands on a daily basis. It would appear that tennis coaches work in environments that make them susceptible to experiencing emotional labour and as such the intention of this article is to first introduce the concept and then to provide suggestions for how a coach may cope with these demands.