User talk:IKEINNYC

The Case for African Monetary Union: by Isaac E. Perry JR. This article is a case for African states to forge some form of African Union of their economies. Examples of such a political economy are from the Capitalist point of view the United States of America economy, the Social Democratic point of view the European Union, and from the Communist point of view the People’s Republic of China economy. So the choices are there. The world’s nations according to its economic labeling are divided into developed, developing, and least developed countries. Developing and least developed countries have symptoms of economic vulnerability, such as low or average GDP per capita income level, limited infrastructure, and marginal level of human development. Developing and least developed countries are usually nations without an embedded social structure that have respect for the rule of law in its fiber and therefore; they revert to tribalism, ethnicity, or sectarianism in times of social conflict. Iraqi and Afghanistan are examples while Egypt is the dichotomy. The Middle East uprising; especially in Libya is prime example of the importance of building social fiber that benefits all. It is amazing how such an oil rich country with billions of dollars in reserve have such limited infrastructure. Their non-development is based on tribalism practices due to Muammar el -Kaddafi hideous dictatorship for 42 years. In Africa, the case for uniting its economies has never been more urgent. According to 2011 Poorest Countries report released by the International Monetary Fund and the CIA World Factbook, 9 of the 10 poorest countries in the world are situated in Africa. The wealth of a country is measured by the Gross Domestic Product (GDP) per capita. That is; GDP per capita is an estimate of how much an individual spends as a consumer compared to the total population spending on products and services. The top 9 poorest countries are: 1. Democratic Republic of the Congo, 2. Zimbabwe, 3. Liberia, 4. Burundi, 5. Somalia, 6. Eritrea, 7. Central African Republic, 8. Niger, and 9.Sierra Leone. These countries histories are littered with internal conflicts. The Democratic Republic of Congo had a coup in 1965, and civil war from 1998 to 2003. Zimbabwe formerly known as Rhodesia was known for the Rhodesian bush war until 1980. There was a coup in Liberia in 1980 when its president was then the chairman of the Organization of African Unity. A civil war followed from 1989 to 2004. Burundi had a civil war that lasted from 1993 to 2003. In Somalia there was a civil war from 1991 to 2004. Eritrea had a civil war in 1961. The Central African Republic had a civil war from 2003 to 2005 and Sierra Leone was engulfed in a civil war from 1991 to 2002. The main cause of Africa’s plight is due to civil wars which are destructive in terms of the environment, human health and economic infrastructure. The environment is affected because the application of weapons of war pollutes the air, soil, and water with toxic gases. Bombs disrupt the soil by causing fire and famine. Human's health is affected in terms of the killing, malnutrition, disease, depression, and refugee. Economic infrastructure is affected because markets become destabilized, properties are destroyed and military expenditures become a burden in terms of economic growth. The importance of an African Monetary Union is that the political economy of African nations will become more interdependence. African nation’s currencies will become one and thereby: reduce monetary instability, eliminate exchange rates and improve trades between nations. It will eliminate the high probability of civil wars because each member countries is bound to one another, Africans will be able to move freely within Africa and seek jobs in other African countries and because of the bound to other member countries each member country will be stronger against other big economies.