Abstract
The investigation of African economies has been dominated by two perspectives. On the one hand, the neo-classical or diffusionist position views third-world nations as essentially repeating the same development path as occurred during the historical experience of the now-industrialised nations. This paradigm indicates that the barriers to the advance of these undeveloped economic systems are essentially internal, and that they include issues such as shortages of labour, limitations in infrastructure, and lack of capital savings. On the other hand, while recognising the constraining influences posed by such factors, the dependency or neo-Marxian perspective argues that the constraints posed by the peripheral position of these economies in a world system is of pre-eminent importance. Such contrasts, although greatly simplified, dominate the explanations of the economic difficulties facing African nations.

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