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African History 7.1 Introduction 3 Views
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Description:
And now for everyone’s favorite subject: economics. Don’t get too excited. Seriously, though, there’s some pretty interesting stuff in here.
Transcript
- 00:04
When a lot of people picture Africa, they imagine a poor, war torn wasteland. [Pictures of deprived Africa and desolated towns]
- 00:09
And no doubt many African states have a lot of work to do as they recover from the fall
- 00:14
out of colonialism.
- 00:15
But right now in modern day Africa we can find
- 00:18
well-to-do villages, wealthy merchant companies, middle-class suburbs, and yes…even luxury
Full Transcript
- 00:24
resorts.
- 00:25
Most people don’t think it’s possible to go sip a piña colada on an African beach, [Woman in beach chair drinking a cocktail]
- 00:29
but it totally is.
- 00:30
In the last fifty years, there’s been rapid development across Africa that has made the
- 00:34
lives of hundreds of millions of people better.
- 00:37
And now for the question everyone’s dying to ask…
- 00:40
How many licks does it take to get to the center of a Tootsie Pop? [Owl with mortar hat licking Tootsie Pop]
- 00:42
Oh wait …No, hang on.
- 00:43
That's not it…
- 00:44
Here we go: which economic model has worked the best in Africa?
- 00:47
Well, in Africa it’s a…different strokes for different folks…type situation.
- 00:52
For example, Nkrumah’s extreme socialist reforms in Ghana actually worked
- 00:57
out pretty well in the long run.
- 00:58
How about that?
- 00:59
High education rates and good social services helped to launch a strong manufacturing industry. [Graph shows increasing rate of education]
- 01:05
Some other socialist states, especially Angola and Namibia, have also developed strong state-led
- 01:10
mixed economies.
- 01:12
With the rise of DJs in these areas, they’ll soon have remixed economies… [African DJ performing on stage]
- 01:18
Capitalist countries have many success stories too.
- 01:20
Oil-rich countries, in particular, have done well. Obviously..
- 01:23
South Africa and Gabon told the capitalist world…
- 01:26
Drill, baby, drill…and they raked in the cash.
- 01:29
Big companies, especially Shell, have set up so many oilfields in capitalist African
- 01:34
countries that Africa, not the Middle East, is currently America's No. 1 foreign supplier [Pictures of oil equipment all with Shell signs]
- 01:40
of bubblin’ crude.
- 01:41
Of course, these oilfields also kick people off their land, cause pollution, and contribute
- 01:46
greatly to global warming.
- 01:48
But there’s no arguing that the cash the oil industry creates has helped some African
- 01:52
countries stand up on their own two feet.
- 01:55
Nigeria has Africa's largest population but still provides many social services, paid
- 01:59
for mostly with oil money. [Man tries to pay at a market stall with a barrel of oil]
- 02:01
Oil-rich countries with less people to worry about do even better.
- 02:04
For example, Equatorial Guinea has more wealth per person than the EU.
- 02:10
How bout them apples, European Union?
- 02:12
Kenya, on the other hand, doesn’t have any oil.
- 02:15
But um well…hakuna matata baby.
- 02:17
Kenya’s path to development has been to create a hands-off government with strong property [Government building with arms lifting weights with property rights on them]
- 02:22
rights.
- 02:23
This has made it a banking hub and corporate headquarters for much of East Africa.
- 02:28
Tourism has also become a big thing in Kenya.
- 02:30
It’s developed a lot of tourist attractions.
- 02:33
Want an awesome safari?
- 02:35
Try Kenya or Tanzania, Kenya’s neighbor to the south.
- 02:38
Tourism as a development strategy has also picked up in North Africa, especially in Morocco,
- 02:43
where even the camels are capitalists. [Camel with lots of cash]
- 02:46
Socialist and capitalist, resource-poor and resource-rich, free and unfree, Christian,
- 02:51
Muslim, traditional, whatever…every country has its own paths to development.
- 02:57
And the economies of African states are catching up in the race.
- 03:00
Maybe they took some lessons from those Kenyan Olympic runners. [Kenyan runner leads a race]
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