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.

It’s time: Generation and temporality in psychoanalytic feminism

In this paper I examine some key aspects of defining one’s generation: transmitting values to younger generations in a way that makes sense to them; cultivating a psychic flexibility that allows us to welcome the future and be prepared for the unexpected whilst not succumbing to the fear of social, political and economic precarity; thinking of generation as both our collective moment in time and as generative potential; reaffirming the value of communication and sharing experience; and maintaining a dialogue between psychoanalytic feminism and other strands of feminist philosophy.

Development and Progress as Historical Phenomena in Tanzania: “Maendeleo? We Had That in the Past”

Academic discussions of development continue to grow, yet critical engagements with communities affected by development interventions remain limited. Drawing from life history interviews conducted in southern Tanzania, this article details the varied experiences of development interventions among older people and how these affect broader understandings of progress. Many juxtapose their negative views of ujamaa villagization with more positive recollections of previous interventions (especially the Groundnut Scheme), which are infused with what is described here as “development nostalgia.” Perceptions of the past clearly inform the social, political, and economic aspirations forwarded today, with the richness of the constructed narratives adding further nuance to existing depictions of Tanzanian historiography.