The Wonders of the Free Market in the Global South: Nigeria is a Failing Capitalist State

Nigeria is a classic case against the implementation of capitalism in the Global South. Nigeria is rich in both agricultural resources and oil. Yet its population lives on $1.90 per day. The unemployment rate is 33% and many of those employed are living a precarious life in the “informal” economy. Nigeria is near the bottom of the world in the Global Fragile Index and the Global Peace Index. Just as here in Mordor, the ruling classes do not pay taxes.

Read in Michael Roberts

Leave a Reply

Your email address will not be published.

Pin It on Pinterest