THE AFRICAN PREDICAMENT AND INSTITUTIONAL COLLAPSE: REFLECTIONS ON ACEMOGLU AND ROBINSON'S INCLUSIVE AND EXTRACTIVE INSTITUTION

Abstract

The African Predicament has been characterized by poverty, economic and cultural slavery, bad governance, insecurity, poor healthcare system, inauthentic education and brazen crisis of identity; these account for the current state of underdevelopment of the continent. This paper examined the African predicament as a direct consequence of institutional collapse. The work employ the hermeneutic method in interpreting the views of authors on the African predicament and argues that inclusive economic and political institutions will bring about the desired development that is lacking in Africa. The paper then concludes that Africa cannot develop unless she jettison the current extractive institution that most African countries are operating and create a strong inclusive institution which will create incentives for innovation and development.