Tom J. Farer

  • Financing African Development

    Tom J. Farer

    Since September 1960, small groups of exceptionally qualified Americans have been working as expatriate employees of several African governments. They are participants in the M.I.T. Fellows in Africa Program, the chief purpose of which is to aid emerging governments in Africa by recruiting young men into their service who have had a graduate education powerfully oriented toward the solution of practical problems and directly relevant to the economic problems facing every African government.

    In this volume, the insights, personal opinions, and widely varying experiences of a recent group of Fellows are presented in critical essays. These articles, which are an outgrowth of the actual working experiences of the authors, analyze the economic, managerial, legal, and ideological problems confronting African nations in pursuit of economic growth.

    The subjects range from the ideology of African socialism to the inflation of Ghana's economy; from cooperatives in Kenya to the Stock Exchange in Nigeria; from an analysis of Tanganyika's Development Plan to problems of foreign aid and investment. The book as a whole conveys an entirely new image of Africa—that of a vast continent moving with laudable rationality and purposefulness to surmount the difficult obstacles to higher standards of living.

    The range and variety of information found in the book will appeal to a wide audience. Professional economists will be interested in the quantitative analyses, yet these are not so elaborate as to be beyond the grasp of businessmen and civil servants involved in economic development. Lawyers and legislators will find the essay on legal aids to investment of significant value. Foreign service officers, political scientists, and students of Africa will appreciate especially the article written from the perspective of an aid administrator in an African country. And for the general public, Financing African Development offers a readily understandable introduction to the field of African development.

    • Hardcover $16.00