with Dr Robert K
LLB (Hons) [London]; LLM [London]; PhD [London]; of the Inner Temple, Barrister; Solicitor and Advocate of the Superior Courts of Justice, Ghana Director London Graduate School of Law, London.
EVERY IDEA is material. The ideas which undermined faith in the rule of law were wrong.
Corporate United African States and the world economy have suffered serious damages from the assaults inflicted by the ideas which undermined constitutional democracy and the rule of law.
That outrage was executed without careful analysis of the consequence on the quality of life of the people. Those ideas include fundamentalism, fanaticism, tribalism, militarism, imperialism, socialism, communism, fascism, racism, and protectionism. All of them are against nature. They were crimes or offences against the people. All the ideologues were all honourable persons in disguise. Their common aim is power.
They seek power for themselves and not for integration of economic activities in the markets across the political boundaries into a single market. Economists call this process of international integration of activities across frontiers a globalization. Independent lawyers call it global investment freedom under a common rule of law across the boundaries.
The enemies of integration in the world in the seven aspects of investment governance for better quality of life are the opponents of the market economy of valuable service for money in the 21st century and in Africa. Corporate Africa must identify a specific value for its transformation in the 21st century: individual freedom under constitutional democracy and the rule of law for protection of property rights and human rights in the United African States (UAS) must prevail.
That recognition is the keel on which the full stabilization in Africa turns. The whole African continent is vulnerable to waves of globalisation, which cannot be resisted, even in the thick of the agricultural subsidies and export tariff and non-tariff barriers imposed by the so-called rich nations. This rather opens a window of opportunities for Africans in the business education industry, financial service industry, corporate governance, competition governance, the legal services, and the media and information technology industry, not to mention others, assuming some are outsourced to China, the lowest cost producer. The competition for jobs will be won by the best service provider for low cost wages.
The overall purpose of capitalism is to awaken consciousness across the board. Capitalism based on strict adherence to truth and disclosure of information is the way to better quality of life for the people. No need for fraud. Africa has sufficient assets for securitisation in all the markets. Globalisation is the context in which business is being done today. What happens in London is repeated in New York, San Francisco, Paris, Frankfurt, Tokyo, Hong Kong, China, Singapore and Africa. Africa is not an island and no island is an island in globalization. Tax payers must pay the price of globalization. In Africa we can look up to the banks and the financial service companies and the oil companies to meet their quota of the annual tax bill. Professional education in all the markets counts.
Competition means low costs and low price inflation. Low cost means high corporate profit for domestic and foreign investors in Africa. This leads to a revolution in business education in African Schools and Universities. Else Africa will lose out in the global competition race. The role of the regulators in all sectors will be enhanced worldwide. The intellectual independence of the regulators in the global market is the salvation-army against inconsistent foreign ideas and cultures.
Ideas are material in the market. Professional education response is needed for all citizens of the world.