The liberal-democratic model proffers a vision of ‘capitalism with a human face’. Political and economic reform is expected not only to revive stagnant economies, but also to foster equity, satisfy basic needs, be environmentally sustainable, promote decentralization, and nurture popular sovereignty. Unfortunately, the programme promises more than it can deliver.

As people become disillusioned, they will probably show renewed interest in the ideas of radical intellectuals and social movements. The pendulum, now swinging so strongly toward liberal-democratic, free-market solutions, may later swing back as many of their fulsome promises remain unfulfilled. How desirable and politically feasible are the radical alternative models?

Despite the shortcomings of existing socialism identified in Chapter 2, Marxist theories have retained their appeal to many African intellectuals. These theories still offer a powerful critique of capitalism as it has evolved in Africa, and an invigorating vision of a participatory, classless, and non-exploitative future society. However, the rethinking of the flawed strategy of transition from the degraded dependent-capitalist society to the future socialist one is still limited. The key question remains unanswered: how will socialist movements avoid authoritarianism and inefficiency in the socialist transition?

Marxism retains much of its intellectual appeal as a holistic framework for understanding the defects and crises of capitalism in Africa. For those who live in the midst of economic stagnation, mass poverty, marked inequalities, political oppression, widespread corruption, and foreign economic domination, faith in capitalist remedies runs against the grain.