Capitalist News Interpreted

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

- by Bruce Lerro - Leave a Comment

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.

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About Bruce Lerro

Bruce Lerro has taught for 25 years as an adjunct college professor of psychology at Golden Gate University, Dominican University and Diablo Valley College. He has applied a Vygotskian socio-historical perspective to his five books: "From Earth-Spirits to Sky-Gods: the Socio-ecological Origins of Monotheism, Individualism and Hyper-Abstract Reasoning", "Power in Eden: The Emergence of Gender Hierarchies in the Ancient World" (co-authored with Christopher Chase-Dunn), "Social Change: Globalization from the Stone Age to the Present", "Lucifer's Labyrinth: Individualism, Hyper-Abstract Thinking and the Process of Becoming Civilized", and "The Magickal Enchantment of Materialism: Why Marxists Need Neopaganism". He is also a representational artist specializing in pen-and-ink drawings. Bruce is a libertarian communist and lives in Olympia, WA.

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