Page 49 - Msingi Afrika Magazine Issue 5

ECONOMY

AFRIKONOMICS elites in our society purely irra- avarice and frugality is unclear to engage them into a dialogue

Theory Part 2 tional expenditure is commonly in Africa, because saving mon- that can lead to better knowl-
ey, for instance, could be taken
edge for all. It recognizes peo-
practiced. It is still characteristic
as an excuse for refusing to offer
of a few of the fossilized rem-
ple’s traditions as a fundamen-
nants of our aristocracy. Homo necessary assistance to others. tal pillar in the creation of such
oeconomicus is not behind us, This explains why, even today, cross-cultural understandings in
but lies ahead, as does the man people in Africa do not hesitate which the Africans can stand out
of morality and duty, the man of to organize big feasts with rela- as having been the fore-bears of
science and reason” tives, friends and acquaintances much of what is called Greek or
and to spend money lavishly in European heritage.
The Prestige Motive order to keep human contacts
Within the prestige world-view, as close as possible. The author Definition of the term ‘Afriko-
someone who relates with oth- himself does this occasionally. nomics’
ers solely on the basis of the Since the prestige motive puts The word ‘Afrikonomics’ comes
profit motive is seen as a po- emphasis on communal be- from the combination of the fol-
tential source of evil to the com- longing and acceptability in eco- lowing two terms: Afrikology +
munity. But within the traditional nomic relations, Mazrui argues Economics.
African context, the prestige mo- that ‘this prestige motive in tra- Afrikology = Of African continent
tive was based on the belief that ditional societies raises serious and Africans both in the African
it is through acts of generosity economic problems’ for exam- continent and in the Diaspora.
to the community that the indi- ple, difficulties of trying to get Economics: = This has its origin
vidual will flourish. The prestige people to save’. In this prestige, in the Greek word oikonomia,
motive ensures that the commu- ’earnings are expended on en- which means the art of house-
nity will exist in harmony when tertainment and hospitality; on hold management. In studying
wealth is collectively enjoyed ostentatious weddings, expen- the nature of this art, Aristotle
(Gefand 1981; Nyerere 1968, sive funerals and initiation cere- undertook to examine what is
Senghor 1964, Kaunda 1966). monies. probably the first economic is-
Traditionally, the profit motive sue to have been subjected to
was seen as a source of evil: “… Defining the Theory of formal inquiry: in what sort of
in an African context it is very Afrikonomics Theory wealth getting activity did mate-
important to share with one’s rial needs become a desirable
neighbor – whoever does not The Background goal of human activity. For Ar-
share withholds the life force The model, seeks to devel- istotle, retail trade, as opposed
from another. Such a person op a unique inter-disciplinary, to the household, which is ex-
confines oneself to the house multi-disciplinary and trans-dis- change for the purpose of mak-
and is unable to be a friend to ciplinary research. It is unique ing money, is unnatural. The
others, thus poisoning the com- in that everything in an African most unnatural activity, for Aris-
munity atmosphere. Neighbors setting, unlike in the West, is in- totle as subsequently for the He-
feel bad about such a person terconnected and collective, and brews, moreover, is to demand
and feel that a misfortune is like- this alone distinguishes the role interest of a loan. Is usury, as
ly to befall him or her. Business it has to play in global economic such, necessary and honorable
enterprises will not flourish, affairs. for humans to undertake? While
property will be lost, or the fam- This proposed epistemology is Aristotle’s was an ethical and
ily of the owners will be struck not necessarily African-centric moral question, it was answered
by sickness, death or anything” or Afrocentric. It is a universal by means of reasoned inquiry:
(Bujo 1998, 162). scientific epistemology that goes concerning human relationships
This prestige motive helped to beyond both Afrocentrism and as they relate to the material en-
preserve the socio-economic Eurocentricism, but seeks to vironment.
equilibrium within the communi- contribute to the development of Actually, economics, for the
ty because wealth became avail- humanity. It recognizes all sourc- twenty-first century, is a broad
able to everybody. Avarice was es of knowledge as valid within but divided discipline, compris-
one of the most detestable vic- their historical, cultural, social or ing dozens of schools of thought
es. Hence, the border between economic contexts, and seeks covering almost every aspect of

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