|
Planned Liberalism
Planned liberalism is an economic policy followed in Cameroon since the 1960s that aims to merge the best concepts of capitalism and socialism. In 1965, Cameroon changed from its previous economic philosophy, African socialism, under the guidance of its first president, Ahmadou Ahidjo. Under planned liberalism, the state began regulating and managing natural resources and guiding foreign investment into specific economic sectors or geographic areas. In the process, the government has partnered with foreign firms to set up various parastatal enterprises. Meanwhile, it has encouraged private enterprise and investment and the operation of market forces. Critics claim that planned liberalism has failed due to widespread corruption, overwhelming government bureaucracy, and ill-advised government backing of certain foreign investors. These faults became evident during the economic crisis of the mid-1980s. Cameroon under Paul Biya has since increasingly turned to privatisation Priv ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economy Of Cameroon
The economy of Cameroon was one of the most prosperous in Africa for a quarter of a century after independence. The drop in commodity prices for its principal exports – petroleum, cocoa, coffee, and cotton – in the mid-1980s, combined with an overvalued currency and economic mismanagement, led to a decade-long recession. Real per capita GDP fell by more than 60% from 1986 to 1994. The current account and fiscal deficits widened, and foreign debt grew. Yet because of its oil reserves and favorable agricultural conditions, Cameroon still has one of the best-endowed primary commodity economies in sub-Saharan Africa. Agriculture Cameroon produced in 2018: * 5million tons of cassava (13th largest producer in the world); * 3.9million tonnes of plantain (3rd largest producer in the world, only behind Congo and Ghana); * 2.6million tons of palm oil (7th largest producer in the world); * 2.3million tons of maize; * 1.9million tons of taro (3rd largest producer in the wo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cameroon
Cameroon (; french: Cameroun, ff, Kamerun), officially the Republic of Cameroon (french: République du Cameroun, links=no), is a country in west- central Africa. It is bordered by Nigeria to the west and north; Chad to the northeast; the Central African Republic to the east; and Equatorial Guinea, Gabon and the Republic of the Congo to the south. Its coastline lies on the Bight of Biafra, part of the Gulf of Guinea and the Atlantic Ocean. Due to its strategic position at the crossroads between West Africa and Central Africa, it has been categorized as being in both camps. Its nearly 27 million people speak 250 native languages. Early inhabitants of the territory included the Sao civilisation around Lake Chad, and the Baka hunter-gatherers in the southeastern rainforest. Portuguese explorers reached the coast in the 15th century and named the area ''Rio dos Camarões'' (''Shrimp River''), which became ''Cameroon'' in English. Fulani soldiers founded the Adamawa E ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Capitalism
Capitalism is an economic system based on the private ownership of the means of production and their operation for profit. Central characteristics of capitalism include capital accumulation, competitive markets, price system, private property, property rights recognition, voluntary exchange, and wage labor. In a market economy, decision-making and investments are determined by owners of wealth, property, or ability to maneuver capital or production ability in capital and financial markets—whereas prices and the distribution of goods and services are mainly determined by competition in goods and services markets. Economists, historians, political economists and sociologists have adopted different perspectives in their analyses of capitalism and have recognized various forms of it in practice. These include '' laissez-faire'' or free-market capitalism, anarcho-capitalism, state capitalism and welfare capitalism. Different forms of capitalism feature varying ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Socialism
Socialism is a left-wing economic philosophy and movement encompassing a range of economic systems characterized by the dominance of social ownership of the means of production as opposed to private ownership. As a term, it describes the economic, political and social theories and movements associated with the implementation of such systems. Social ownership can be state/public, community, collective, cooperative, or employee. While no single definition encapsulates the many types of socialism, social ownership is the one common element. Different types of socialism vary based on the role of markets and planning in resource allocation, on the structure of management in organizations, and from below or from above approaches, with some socialists favouring a party, state, or technocratic-driven approach. Socialists disagree on whether government, particularly existing government, is the correct vehicle for change. Socialist systems are divided into non-market and mark ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
African Socialism
African socialism or Afrosocialism is a belief in sharing economic resources in a traditional African way, as distinct from classical socialism. Many African politicians of the 1950s and 1960s professed their support for African socialism, although definitions and interpretations of this term varied considerably. These politicians include Julius Nyerere of Tanzania, Kwame Nkrumah of Ghana, and Modibo Keita of Mali, among others. Origins and themes As many African countries gained independence during the 1960s, some of these newly formed governments rejected the ideas of capitalism in favour of a more afrocentric economic model. Leaders of this period professed that they were practising "African socialism". Julius Nyerere of Tanzania, Modibo Keita of Mali, Léopold Senghor of Senegal, Kwame Nkrumah of Ghana and Sékou Touré of Guinea, were the main architects of African Socialism according to William H. Friedland and Carl G. Rosberg Jr., editors of the book ''African S ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ahmadou Ahidjo
Ahmadou Babatoura Ahidjo (24 August 192430 November 1989) was a Cameroonian politician who was the first President of Cameroon, holding the office from 1960 until 1982. Ahidjo played a major role in Cameroon's independence from France as well as reuniting the French and English-speaking parts of the country. During Ahidjo's time in office, he established a centralized political system. Ahidjo established a single-party state under the Cameroon National Union (CNU) in 1966. In 1972, Ahidjo abolished the federation in favor of a unitary state. Ahidjo resigned from the presidency in 1982, and Paul Biya assumed the presidency. This was an action that was surprising to Cameroonians. Accused of being behind a coup plot against Biya in 1984, Ahidjo was sentenced to death in absentia, but he died of natural causes in 1989. Early life Ahidjo was born in Garoua, a major river port along the Benue River in northern Cameroun, which was at the time a French mandate territory.. His mother was ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Parastatal
A state-owned enterprise (SOE) is a government entity which is established or nationalised by the ''national government'' or ''provincial government'' by an executive order or an act of legislation in order to earn profit for the government, control monopoly of the private sector entities, provide products and services to citizens at a lower price and for the achievement of overall financial goals & developmental objectives in a particular country. The national government or provincial government has majority ownership over these ''state owned enterprises''. These ''state owned enterprises'' are also known as public sector undertakings in some countries. Defining characteristics of SOEs are their distinct legal form and possession of financial goals & developmental objectives (e.g., a state railway company may aim to make transportation more accessible and earn profit for the government), SOEs are government entities established to pursue financial objectives and devel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Market Forces
In economics, a market is a composition of systems, institutions, procedures, social relations or infrastructures whereby parties engage in exchange. While parties may exchange goods and services by barter, most markets rely on sellers offering their goods or services (including labour power) to buyers in exchange for money. It can be said that a market is the process by which the prices of goods and services are established. Markets facilitate trade and enable the distribution and allocation of resources in a society. Markets allow any tradeable item to be evaluated and priced. A market emerges more or less spontaneously or may be constructed deliberately by human interaction in order to enable the exchange of rights (cf. ownership) of services and goods. Markets generally supplant gift economies and are often held in place through rules and customs, such as a booth fee, competitive pricing, and source of goods for sale (local produce or stock registration). Markets can ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Political Corruption
Political corruption is the use of powers by government officials or their network contacts for illegitimate private gain. Forms of corruption vary, but can include bribery, lobbying, extortion, cronyism, nepotism, parochialism, patronage, influence peddling, graft, and embezzlement. Corruption may facilitate criminal enterprise such as drug trafficking, money laundering, and human trafficking, though it is not restricted to these activities. Misuse of government power for other purposes, such as repression of political opponents and general police brutality, is also considered political corruption. Over time, corruption has been defined differently. For example, in a simple context, while performing work for a government or as a representative, it is unethical to accept a gift. Any free gift could be construed as a scheme to lure the recipient towards some biases. In most cases, the gift is seen as an intention to seek certain favors such as work promotion, tipping in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bureaucracy
The term bureaucracy () refers to a body of non-elected governing officials as well as to an administrative policy-making group. Historically, a bureaucracy was a government administration managed by departments staffed with non-elected officials. Today, bureaucracy is the administrative system governing any large institution, whether publicly owned or privately owned. The public administration in many jurisdictions and sub-jurisdictions exemplifies bureaucracy, but so does any centralized hierarchical structure of an institution, e.g. hospitals, academic entities, business firms, professional societies, social clubs, etc. There are two key dilemmas in bureaucracy. The first dilemma revolves around whether bureaucrats should be autonomous or directly accountable to their political masters. The second dilemma revolves around bureaucrats' behavior strictly following the law or whether they have leeway to determine appropriate solutions for varied circumstances. Various commen ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Crisis Of Cameroon
An economy is an area of the production, distribution and trade, as well as consumption of goods and services. In general, it is defined as a social domain that emphasize the practices, discourses, and material expressions associated with the production, use, and management of scarce resources'. A given economy is a set of processes that involves its culture, values, education, technological evolution, history, social organization, political structure, legal systems, and natural resources as main factors. These factors give context, content, and set the conditions and parameters in which an economy functions. In other words, the economic domain is a social domain of interrelated human practices and transactions that does not stand alone. Economic agents can be individuals, businesses, organizations, or governments. Economic transactions occur when two groups or parties agree to the value or price of the transacted good or service, commonly expressed in a certain currency. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Paul Biya
Paul Biya (born Paul Barthélemy Biya'a bi Mvondo; 13 February 1933) is a Cameroonian politician who has served as the president of Cameroon since 6 November 1982.Profile of Biya at Cameroonian presidency web site .Biography at 2004 presidential election web site . He is the second-longest-ruling president in Africa and the oldest head of state in the world. A native of Cameroon's south, Biya rose rapidly as a bureaucrat under President [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
.jpg "Click for more on -> Socialism")
_per_capita_in_2020.png "Click for more on -> Economic Crisis Of Cameroon")
