September 25, 2011


In reply of postscript of May 26 written by Dapo Fafowora in The Nation campaigning for the adoption of market neoliberalism

This axiom is undisputed for all time :that freedom is the salvation of man under sun and the commonwealth and godfather of all social progress and human civilization is the ideological freedom .It cannot be so successful to achieve its desired ends unless intellectual freedom is leveraged to transplant it from the nursery and preserve it into the main field .When they mature culture is reborn and refined which is the mother earth of all progress and the foundation of the universe .How so great if we adore them and we shall preserve our civilization for all time or launch imprecation that may take eternity to cure when abhorred. It is the greatest challenge in mortal history-indeed it is the greatest battlefield of freedom –author.

 It is imperative to note that a society or a nation evolves based on the existing capacity of her economy and the available competence and core competence respectively needed to mobilize mass development cannot exceed this capacity rigidly motivated over time by wiles of nature and human instinct .

The development of human capacity , mainly human capital and human resources using these changing caprices predetermines the extent and the ratio of capital development that can be mustered over the long haul .Development therefore , no matter how small or big cannot go beyond the pedigree of social capacity at a time .

 However , inasmuch as it is pivotal to mass development , without development ideology or ideological freedom , the uniqueness and the quality of capital development which is the totality of mass development at a time cannot also be sustained over the long run . In stead of long term sustainable mass development , or capital development , capital underdevelopment roosted by increasing development mortality had become a lasting patrimony in the developing territories .

In one of my previous posted articles ‘the concept of capacity building and economic development ’ l categorically shed light and appraisal on the mobilisable proportion and importance of capacity building and unrivalled influence on not just economic development but sustainable economic development and the ire effect and imprecation of brain drain over Africa .

 Similarly , in my two books ‘Neomarxism : How to conquer world Poverty ’slated for publication in America and especially its African version ‘World Development Ideology and the Age of Microfinance ’(note:ebook version available } I also shed light on the effect of ideological subserviency over Africa ,diagnosing and proffering solutions to world wide economic crisis while using Africa as a case study , to nail the poser once and for all .

 I also believed this is the first time in history in which development system is proposed for each territory of the world based on prevailing local macroeconomic climate .In my successive studies , even it is plainer to a layman or casual observer that the problem of Africa today or most developing territories is lack of ideological freedom .In these researches ,I highlighted the rise and fall of African civilizations and successive ones .

Today , after the fall , no attempt had been made and accumulated complacency [bibliomania sis ] encouraged the latter triumph of slave trade , the outburst of successive neocolonialism and relentless blind patronage of modern neoliberalism . No development ideology, nothing! Why? Even where we have some philosophers and economists or some good thinkers coming up making a giant stride like south western Marxism popularized by great Awo, they seem to be basically pro-west like Edwin Madunagu or a Neoliberal advocates like Soludo, Sule Lamido or Dapo Fafowora .

It is certainly clear that the gain of erstwhile banking reforms had be come moribund and effect unsustainable. Even the newly rescued banks according to AMCON will take 10trillion naira to be liquidated rather than 1.5trillion naira needed for recapitalization .The banking system is in a colossal mess. The economists and the policymakers are the major bane and bone of contention .This ilk’s hardly think out of the box .No one thinks clearly nor get rid of this bias .

 To liberate African minds from the yoke of western ideological trap had become an arduous task .Even when their scientists and economists have been trying hard to relinquish and jettison past moribund theories which led to previous boom and burst mainly from the great depression of the 1930s to the past meltdown, our so called --African avangarde are still stuck in between , eating the excreta of dejected western moribund theories and proffering them as solutions to deter our nightmare . The worst part of this mess is that even a slight modification of these theories had been hard to come by.

The best we had was southern Marxism and effect not sustainable with the successive generation .Madunagu is an unrepentant Marxist .I have known him for long as media incendiary probably more than a decade now when I was still a vendor , before taken on journalism and writing as next target ,though we never met . A friend of mine was a core aficionado and is still very fond of him .He had so many followers like this guy and bequeathed nothing but trash to them .This guy hardly believed there were other intellectuals in the country that were far better than him . HE USUALLY CALLED HIM FATHER –‘ baba agba’ in Yoruba meaning somebody unbeatable and a leader in the field . All attempts to convince him he was no brainier sounded like the hoot of the raspberry .Fortunately , he is a scholar of repute and have strong sense of history .

Anyway , we can not take that from him .But my worry is that he would have been very good original luminary if he had challenged Marx AND contributed immensely to expand or refine Marxism in this country, besides being good historian because he is the nation’s no.1 Marxist and knows the terrain very well in and out .

 It is particularly interesting to note that the propagation of ideology must be preceded and succeeded by a good sense of intellectual and ideological freedom .The crash of Soviet Union came as a result of lack of intellectual freedom for the people of the old Bolsheviks .

 Hence , people were alienated from social ,political and economic freedom reserved only for the elite class who enjoyed the boon of ideological freedom .With the emergence of Stalinism , Marxism was heartlessly raped for good three decades and capital development was attained at the risk of intellectual freedom .It is the greatest empiricism in modern times as far as dispersal of ideological freedom is concerned .
That in a society where ideological freedom is ensured , intellectual freedom sown over all citizens must be allowed to roost and distribute the gain of great charters of liberty over all .This was experienced by the Anglo-American or western Europe beginning from the Renaissance era and tirelessly keep mustering its steam for a good five centuries persistently clining even in the post-industrial age . We can imagine the kind of challenge a society without ideological freedom is facing talk less of an embedded disability potential entrenched in a socioeconomic system via the distribution of ideological freedom over all .

That is the ideology must be absorbed and fully imbibed over all irrespective of demographical differences prior to evolution of capital development so as to sustain ideological freedom –this is intellectual freedom .If the framework is abused , mass development could be strangulated which requires muses from the people for its success

.This remains a tall creed in the great charter of liberty .That a society to be liberated through ideological freedom must be mandated to also imbibe the fruits of intellectual freedom prior to explosion of capital development .This defines the essence of development cycle in a cameo which should be repeated by every successive generation so as to maintain and sustain growing antecedence of human civilization . Inability to adhere to this creed , better explains why democracy ,neoliberalism , nationalism , Marxism and the gains of economic freedom had failed woefully to materialize or yield result in most developing societies . 

The great soviet society did attain this up to a time and capital development attained was not sustained with the next generation due to abuse of intellectual freedom .70 YEARS LATER led to its fall. It is necessary to observe that local tradition usually grows or patronizes new ideology use so slowly .But when intellectual freedom is entrenched in human tradition via psychological behaviour , ideological freedom can grow so quickly with mass development and then capital development nurtured as cycle graduates and flow sustainable .

NIGERIA IS A FERTILE GROUND for ideological freedom especially in the south where mass enlightenment is a bit higher-a proof that intellectual freedom can be cultivated as the sole insulator of ideological freedom being the baseliners in the great charters of liberty . WESTERN NEOLIBERALISM : A SINKING SAND Madunagu’s unbridled and blind support for Marxism would not help Nigeria or developing countries in any way without rethinking Marxism and refining Marx to gain required aptitude and eligible standard for adoption .

That is an imperial fact .On May 26 ,2011 , I read ‘Searching for new Economic Perspectives ’a post script written in The Nation by Dapo Fafowora—a veteran essayist and young Nigerian mind making waves in this arena which informed the kernel of this article. I noted with rapture and bamboozle his erudition and perusal which exhumes the unworkable antecedence of socialism in most part of the world where it was adopted and how it was overtaken by Neoliberalism .He noted China , India and entire BRIC countries forming this nucleus and thus concluded that the model should be adopted for the Nigerian economy while declaring null and void the efficacy of socialist model .In my new book [African version ] .I call this mentality and prejudice ‘Biblio Myopia’ not common to developing countries alone .Mentally enslaved people hardly think out of this Pandora box of repression and especially we-- blacks are confronted with this problem as the most culturally subservient race .This stigma continues to confront us .

These men and we have similar features -- ideologically famished minds. Unfortunately , a Nigerian was calling for the adoption of the same model that led to great depression and the meltdown that thoroughly thrashed 5 out of 7 American investment banks into dungeon of obscurity .AIG , Merrill lynch , Bears Stearns , Lehman brothers and U.S. mortgage banks --Fannie Mae etc.all fell without remedy IN THE FOURTH QUARTER OF 2008 .A period in which MILLIONS OF Americans were bankrupt and homeless and countless marriages crumbled .

 When the sub prime crisis took the world by storm in 2007 , not many knew it would lead to credit crunch of this magnitude that detonated the toxicity in 2008 .On September 15, 2008 ,Lehman crashed with the largest bankruptcy filings in U.S. history .Then Merrill Lynch ,the largest stockbrokerage company in the United States also went bankrupt and was bought by Bank of America .The same banksters behind the economic holocaust and the new depression with no financial education even though claimed otherwise , are still being looked upon , teaching people everywhere , proffering solution to the crisis they perpetrated .AIG ,Fannie Mae and Freddie Mac are still mired in depression , in serious trouble and haunted by the crisis .

Today , Warren Buffet a notorious criminal and the world leading bankster, running the world largest Ponzi scheme empire is still being courted by government to help proffer solution to the nagging crisis mustered by their empire .Seeking help from a bankster who helped midwives the crisis is unfair and who sold the toxic mortgages known as the derivatives to government , pension funds and investors around the world , after rating the same sub prime mortgages AAA through Moody -an agency he controls [like Wells Fargo , General Electric , American Express and Gold man Sachs ] can be regarded as a fraud .According Robert Kiyosaki in the new book –Unfair Advantage , he regarded selling sub prime debt packaged as AAA prime debt a ‘fraud ’.Yet his companies have received billions of dollars worth of bail out fund from government after the crash .

 Is it not unjust that somebody behind the world largest Ponzi scheme empire is still being regarded as the smartest investor in the world ? Millions of homes are now under water , worth less than the mortgages .Retirement funds in America is short of 6.6 trillion dollars according to Kiyosaki and Boston college report 2010.These looses would leave Americans unsafe after retirement .In just one month alone August 2010 , approximately 108 billion dollars worth of defined benefit pension plan assets of the top 100 biggest corporations recorded monumental loses .

This means millions of Americans who contributed to this pool are in serious trouble of unsafe retirement and may not receive the guaranteed paycheck for life .Besides , the university of California retirement system –Calsters that was unfunded by half a trillion and engaged in risky investment , the Californian government pension agency ,Calpers –a public retirement pension system that accounts for 1.6million public employees ’health and pension benefits was also in serious trouble having lost more money than all others combined.

 The spill –over effect of the successive financial contagion even in the immediate post –meltdown era has not yet abated .What a rascal we would be if it is adopted! Fafowora himself in the post script concluded that – ‘‘currently , three European countries-Greece , Portugal and Ireland have asked the EU for financial bail out to avoid falling into economic depression .The British coalition government has introduced savage cuts in public expenditure to reduce its huge budget deficits ’’ I believe these are short lived measures and inadequate options .Madunagu was right to interrogate the quality of Neoliberal free market , he proposed to liberate the nation from economic quagmire .

 Then I burst to laughter a bit when he said ‘‘ So far Nigeria has been able to ward off a depression ’’I can ’t understand Fafowora linking it to a surge in unreliable oil income .Are we not in depression already or now in a country in which 15 million graduates are not employed and unemployable and 90 percent of the people are below poverty if we use UNDP poverty profile and not world bank poverty line concept .Great trouble is imminent if we adopt western neoliberalism hook line and sinker .Although , I quite disagree with Madunagu as a remorseless Marxism in most cases , but he was right to lampoon Fafowora ’s ignoble doses ‘with a populist passion ’ or any such ‘was bound to fail ’.

Truly speaking , it was a total failure in almost all developing countries .And mind you , market socialism not of the type preached by Madunagu had always been the savior .During A. Lincoln era besides the civil war [1861-65] James Garfield ’s 100 days in office and Kennedy ’s 1,000 days in the white house , the attempted introduction of U .S . green backs during the period to the era of Roosevelti an New deal that ended the depression at the end of world war 11 but disapproved and branded as national socialism by the supreme court in addition to Clintonian boom of the 90s –the golden age of U.S. economy
An era that created more than 22 million jobs and over 500billion dollars as surplus piled up in the treasury cannot be whisked away in a jiffy . The Marshall plan introduced during the end of the second world war to liberate Europeans from the miseries of the war cannot be forgotten but they blinkly unearthed some of its hidden potential

They same banksters behind the land speculative crisis of the 1830s were behind the great depression and who also profited immensely from the finance of world wars 1 & 2 helped induced the meltdown .During the depression, thirteen thousand banks crashed in America prior to establishment of FDIC in 1933 and from the end of the second world war till the 70s inflation not employment blanketed the nation. At the root of this problem ,the Fed .stood as the major catalyst of American economic crisis .

 It would be surprising to note that American government did not have nor own a central bank because the Fed .does not belong to it .The private Wall street bankers owned the institution established by Woodrow Wilson in 1914.Here is an institutions that was created in violation of article 1 section 8 of the constitution which restricts delegation of the right and power to create money and regulate its value beyond the congress or o other body .Despite the fact in 1935 supreme court ruled against delegating this power to another authority , it acted contrary instead against the law .

By the time the President eye opened to the ponzi scheme , it was too late .A full trained Professor of Law-a senior intellect was deceived to defraud his country .The Federal Reserve Act gives private bankers the American sovereign powers and the most important of all powers .According to Stephen Lendman in the ‘Grand Theft America :The untold story Of global economic crisis’, is the one most of all that governments hardly relinquish which is the power to print money and control its supply .This is the greatest calamity ever bequeathed to ADAM Smith philosophy of free market .Not only control its supply but also determine its value or price its scarcity mainly through federal fund rate manipulation and through changes in the monetary policy .

It is graphically absurd to charge government interest on its own money and later returned the same flat with no interest to owner ,creating money out of nothing and mortgaging the future of generation yet unborn . When on June 4 , 1963 , with the Kennedy issuance of the executive order [EO] 11110 , it gave the authority to the President to issue currency, ordering the treasury to print U.S.treasury notes replacing the Fed . notes and attempted a process to let government owns its money and resided with the power to print money and not Fed. banksters .

Several months later he was killed and Lyndon Johnson took over government to reestablish the Ponzi scheme to the glory of the Banksters and continue with the statusquo of fraudulent monetary policy shift , contracting and expanding interest with no government regulation and oversight control while the taxpayer foot the bill .Does it make sense to create money out of nothing transferring wealth to the banksters from the people ? When Nixon came , in August ,1971 closed and ended the gold window which once backed local currency , suspended its convertibility into metal beginning a new dawn contrary to Breton Wood core provision.

 Few greedy men had mortgaged the posterity as faith in the dollars declined on the altar of profligate policies and unbridled corruption . According to Lend man half a century later after the great Jefferson statement ,Lincoln narrated his vision : I see in the near future a crisis approaching that unnerves me and causes me to tremble for the safety of my country ….corporations including bankers have been enthroned and an era of corruption in high places will follow , and the money power of the country will endeavor to prolong its reign by working upon the prejudices of the people until all wealth is aggregated in a few hands and the republic is destroyed .

’’The Fed today is the world largest Ponzi scheme . It is the most fraudulent central bank in the world controlled by greedy banksters who were behind the killings of three American presidents for trying create one .Economist Michael Hudson and critics Stephen Lend man in their critics of meltdown reconstruction efforts had regarded EESA ‘cash for trash ’as a give away and not bail out .It indicates simply transfer of public wealth to the few banksters and insiders –a sort of financial coup d’etat and the largest and the most inequitable kind since the 19th century. That is why I have contended that inequality of wealth leading to reguflation causes inflation.

.The critics lamented this inequality and were angry at the amount of deceit and relentless fraud going on in the system .Having dished out junk of all sorts –structured finance or SIVs ,credit default swap , securitized mortgages , student loans , collateralized debt obligations such as car loans , credit and corporate debt , special purpose vehicles [SPVs] repackaged arcane and commercial papers and more later resorted to costly hedging ,when the bubble burst to socializing losses at the expense of hapless taxpayers .

 This enriched the fraudsters to cripple the economy .A system that rewarded criminals and crashed industrial capitalism replacing it with the kleptocrats .Little wonder Jefferson regarded the banking institutions as far ‘more dangerous to our liberty than our standing armies . Already , they have raised up a money aristocracy that has set government at a defiance. ’He further noted : the issuing power should be taken from the banks and restored to the people to whom it properly belongs ’.

There is a great deal of secrecy going on in the Wall Street . Some have blamed the universal banking model as the real culprit but indeed not really . In the banking crisis of 1930s the reform advocates during the period blamed losses on the reckless behaviour of securities’ affiliates of commercial banks .The universal banking model which entertains full gamut of both retail and wholesale ends of the chains offering services across diverse sectors and regions was scrapped with the emergence of Glass Steagall Act of 1933 repealed in 1999 which stipulated and enforced legal separation of commercial banking and investment banking .

But during the period subsequent perod have shown that those institutions without a security arms had a much greater threat and tendency to fail .Whether both studies are good and reliable or not is a matter of intellectual debates with the emergence of great meltdown .It is inadequate to link the problem really to lax lending practices , poor savings , poor credit rating , credit crunch and poor regulation .This happens everywhere .

These are secondary inconsequential factors . This indicates that the system is the problem and inadequacy entrenched in the neoliberal free market would keep crisis reappearing unless new model is evolved .How can few private banksters and greedy individuals in the country mortgaged the right to central banking of a sovereign and most powerful nation like America to their own parochial ends ? What they did not know is that inflation and recession are twin arms of inequality of wealth.

What a calamity will we caused our nation if adopted ! .About 13,000 banks crashed during the depression and was speculated that in a decade about half or more of 9,000 banks would soon go if the present model persists. We should not be a rascal to adopt this moribund theories here in Nigeria. Not many knew that even before the laws of the market were discovered by Adams Smith ,some scope of communism and extensive practice of unrefined market socialism not really the sort preached by utopian socialism was endorsed in Europe .

A long barren medieval abetted this practice . Moreover, this lasted from the late medieval for instance for good 800 years in France even after its revolution of 1789 [ref.Robert Heilbroner: Economic Revolution, pg.137,shaping of western civilization explains the mood of the era ] .The Renaissance movement that started in Italy became the sole catalyst of modern free market which began in Britain and lucre was the sole motivator .The trenches of disillusionment he noted with neoliberalism in the 70s and 80s and its total failure was due to ongoing ideological rivalry of the period or so called cold war a period in which it was reborn and resurrected by P.M. Thatcher in G. Britain and President R.Reagan in America . They adopted the philosophy of Adams Smith followers-Fredrick Von Hayek and Prof .Milton Friedman .
When Soviet union fell , democracy and political freedom [ not economic freedom ] swept the world like tidal wave –a major reason behind its growing patronage and increasing world poverty prevalence 

But the problem here is that Karl Marx had no ideological disciples like Biblical Jesus , Prophet Muhammad or like Adam Smith ,whether in support or in opposition of the baseliner model .Smith had masters before him . Thomas Mum ’s mercantilism came before him and free market existed before him fully entrenched in human tradition left unexplored We also have people like John Law and the share trading of Mississippi company .When he came he reorganized this field of economics and had a large followers who succeeded him consistently polishing his thoughts .For instance , from the classical economics to neoclassical economics that produced the like J.B. Says among others to people like Joseph Schumpeter or historical giants like Milton Friedman ’s monetarism and Hayek , the world had become a better place to live ushering in unprecedented prosperity whose views were heavily adopted and respected around the world .Though Nobel laureates in economics are awarded on annual basis contributing their quota , broadening the study , many more challenges and hurdles however still remain to be mounted .--- The Keynesians and the era of macroeconomics were also influenced by classical economics ’s theory of larger market , mass production , division of lab our , laissez faire etc. [ref.later study on macroeconomics ] .

 Whereas Marxism suffers drought in this regard .Besides Engel , I barely knew or read about a prominent philosopher or many of such expanding this field of thoughts --Marxist economics .Practically none . Yet, it is the sole alternative study and the most reliable to spread wealth evenly ,or near evenly to ensure universal prosperity and banish poverty if well refined . The utopian socialists before Marx or prior to 1848 European revolution were prominent historical figures who mentored and indirectly influenced Marxism and Bismarckian nationalism, drawing inspiration from the failure of the revolution .

 I believe that lack of disciples in the development of this field and the nature of stiff resistance meted out to opposing schools especially during Stalin era strictly accounted for the fall of old Soviet . Several countries that adopted it like Cuba or China couldn’t survive solely with it. And even Cuba would cave in sooner or later to free market deceit like China because lucre is a deceiver .The reason is simple : Marxism was regarded as ‘ unfinished revolution ’because many details and grievances were left unexplained and unsettled .Several principles that should form the nucleus of Marxist Scriptures guiding the transition of social institutions towards the communist homeland were not expatiated and clarified . In ‘Adam Ulam: The Unfinished Revolution ’Ulam noted ‘‘How different will the better world of socialism be from the old one of capitalism? Marx and Engel have notoriously little to say about the wonderful new world their criticism and theories imply ’’ 

So much references were made in regard to the nature of capitalism compared to skimpy evidence of socialism .The Marxist world of Western Europe in 1880 fell mainly to Engel but his view was not that vastly different from his great companion .When he died in 1895, Ulam concluded ‘‘the canon of Marxism was frozen and vital questions of socialist role in parliamentarianism of the nature of transition from capitalism and of socialism itself remained to be fought over by revisionists and orthodox Marxists ’’As noted by an American ‘ain’t no disciple gat no appeal ’. I want to believe the anticlericals that form the nucleus of the reformation of the 16th century by the nature of their roles were socialists The Martin Luther king Jnr.Malcolm X. Rosa Parks among others who redefined American values , racial equality and the course of black history were no less socialists in the modern sense .

Little wonder, the permission obtained by Edgar Hoover from the general of the period to ransack and scrutinize King’s private life found out shockingly he was no communist but indeed his action showed otherwise .If there were disciples shortly after Marx and Engel to polish this ideology , it could have been a more powerful force in mortal history .The role of ideological disciples [ as opposed to mere followers] is to maintain and sustain the tempo vital in the distribution of ideological freedom transplanted by early golden age thinkers in the field .Darwin also had great followers like many of the world great religion founders. 


Charles Darwin had a good history to draw from .According to Robert Wright -the author of Moral Animal , he noted after the Origin Of Man ,a great revolution began with the emergence of an increasing body of natural researches beginning from historians like John C.Greene and intellectual reactionaries such as William Hamilton ,George Williams ,Robert Trivers and John Maynard Smith encouraged the deepening that occurred thereafter in the study of evolution .

This broadened the instinct of evolutionary biologists opening the long withheld mysteries behind the social behaviour of animals and man .Wright concluded when he noted the existing defects that two epoch making books such as E.O.Wilson’s Sociobiology ,(1975) and Richard Dawkins (1976)-The Self fish Gene’ which spoke relatively little about the influence of human behaviour no doubt contributed their quota to increasing global appeal of Darwinism . The study of Darwinism or evolution is by no means peculiar to Darwin .Charles Lyell is the pioneer in this field had already advanced the study prior to or as at the time that Darwin started his thesis drafting 35 pages and expanded it to 230 pages later. While Newton discovered the laws of nature and dominated the 17th century ,Darwinist thesis on the evolution of man also competed during the period .Jean de Lamark (1744-1829) had earlier challenged the immutable fixity of species envisioning a comprehensive evolution from worm to man using the theory of acquired characteristics to explain the evolutionary process .Karl Marx also applied this to social sciences that social institutions were constantly in the process of change .

The thesis started from 1840s upward . In his ‘Progress ,its Law and Cause ’Herbert Spencer applied this to all phenomena. Whether commerce , Production , social development , language ,science ,literature and art all undergo simple evolution. This I described as ‘development cycles’ which rests largely on the institution of freedom .The social Darwinist who adopted this philosophy utilized its belief to justify the golden age of colonial expansion and Darwinism was enforced to justify imperialism of weaker race [i.e. blacks] .That colonies were instrumental to the survival of great powers .The philosophy of the aggressors-Marxists , Bismarckian nationalists and social Darwinists may not serve well Africa because it was meant to keep us as a perennially defeated race . The resistance and loggerheads between Darwinists and creationists till date serves to broaden the horizon and study of natural selection spreading intellectual freedom beyond initial scope that could have moved even Darwin in his grave today .

 The successive development created so many schools of thoughts and later refined their world view such as the belief of social Darwinists .On the other hand , in the Greek society , Several branches of philosophy such as Epicure , Stoicism and existentialism were evolved .But by the nature of their evolution had finished their assignment booking a place of pride I n the world civilization ’s history - It is necessary for ideology itself to evolve like every field of human study , it has promoted .This eradicates the irregularities and shortcomings involved in the original context for the benefit of universal welfare . 


The socialist movement debuted as an intellectual and ideological institution in the 19th century . This created a means to counter the problems posed by rising tide of industrialism and launch protest against liberalism .Socialism as a word and ideology first appeared in 1833 and 1839 respectively .It simply re-emphasized the need to return to pre-liberal traditional society that once existed prior to explosion of industrial revolution .They were concerned with the social challenges created by industrial evils and the inherent trespass on right of man .That a society exists for the benefit of all its members as advocated in the middle ages ..They opposed the free market powers of the individual bourgeoisies which they believed had prompted social misery of industrial workers. They advocated social cooperation ,state capitalism and planned economy . Even though they could not cope they represent a rising conscience against the evils of capitalism .

 In France , count of Saint Simons (1760-1825)a bold aristocrat held sway who also fought alongside the patriots during the American war was the first to realize this challenge. Rene Joseph Proudhon (1809-1865) a self professed anarchist of French peasant stock also consolidated socialist influence in France .He was hostile to state and opposed private property .Robert Owen (1771-1878),a successful textile industrialist believe in good education and a good working environment would lead to human progress .Simon’s most vocal critics –Charles Fourier distrusted all centrally planned authorities and believe large bureaucracy would certainly lead to anarchy .Nigeria should learn from this .Whereas Sismondi a swiss economist entertained a popular stance believed all class struggle occurred as a result of world scarcity of goods .He could have been a great Marxist economist had he being that popular with that viewpoint a world model like Smith. 

My view on Neomarxism is a bit similar to this ends. He believed that with the new means of mechanical production an increasing floodgate of goods if left unchecked would lead to class war far more incomparable to previous wars. In an attempt to gain market share over temporary market rivals , increased competition induced by increase marketing , would create lower wages and increase working hours which would in turn lead to economic crisis and internecine wars between capitalists and further ballooning artificial poverty . Isaiah Berlin commenting in ‘Isaiah Berlin : The Utopian Socialism ’noted ‘‘Fourier ’s indictment is the prototype of all later attacks on the doctrine of unchecked laissez faire ,of the great denunciations of Marx , and Carlyle , of Daumier ’s cartoons and Buchner’s plays ,no less than a communist ,fascist and Christian protests against the substitution of new forms of privilege for old and against the enslavement of the individual by the very machinery designed to set him free. ’’ When Charles X was expelled during the revolution of 1830s bringing the Louis Philippe to the throne of France ,socialism gained impetus once more reviving literary revolution .

A tireless succession of books and media freedom attacked social evils of the day and proliferated remedies .The Lamar tine or Cremieux softly liberal proposals ,and the developed state capitalist model expounded by Louis Blanc and semi-radicalist demand of Ledru Rollin or Marast .Blanqui and Barbes also proposed drastic socialist policy using their journal L’homme Libre endorsing abolition of private property or violent eruptions . Apart from Pecquer , Blanc and Dezami , other scholars , who followed closely either popularized ,altered and diluted their original thoughts and doctrines. With his Christian socialist ‘words of a believer ’Lamais --a catholic priest in 1834 , published his revolutionary ideas .Also In 1845 , the ‘Bible of Freedom’ appeared and was circulated by Abbe constant . Fourier ’ s disciple –Consider ant also gained popular appeal when he supported and declared in favor of the abolition of private property .

They lasted for a quite a while and later evanesced as a movement especially the Saint Simonists .Unfortunately, they later became the same capitalists,--railway magnates , rentiers whom they had lived for all time to preach against .The previous gains of ideological freedom nosedived in to obscurity as intellectual freedom developed volatility. Sharing and suffering the same fate as the Marxists .Can you imagine ? That is the power of lucre . They lived only to fulfill at least one out of their master ’s prophecy . Communist settlement was funded by the fourierists in America like the Oneida community that attracted popular American thinkers. They could not sustain the tempo and pressure in the defence of what they believed like the Capitalists .Time pressure was against them –an advantage that the capitalists had exploited to the full altering the forms of the society as they deem fit .The capitalists and the merchants after the overthrown of feudal lords were able to exploit not only the gains of intellectual freedom but its proven merit of better standard of living derived from the fruit of technology , tested and applied to advance the course of capitalist prosperity .The socialists who promised universal prosperity-a far better alternative have fallen far behind .Most especially , the socialists have been seduced by lucre, and according to V.Lenin , have sold themselves to the capitalists think not of the future of their children or grandchildren but they themselves. 


We know that the original pre-Marx Socialists and original pre-Bismarckian nationalists were conciliatory , peaceful ,evolutionary , pacifist and tolerant in the great liberal tradition .Robert Owen , Fourier and the rest were derogatorily regarded as utopian by Marxist socialists .They were so labeled because in binging about peaceful change without class war such as the Scandinavian socialist reforms .That they need not sacrifice civil liberties to get the job done . The pre bismarckian nationalists like Herder [1744-1803] in Germany and Mazini [1805-1872] prominent in Italy .And like their historical brethren failed woefully in the revolution of 1848 .

This failure erupted the iron and blood nationalism preached later by Bismarckian and Marxist socialists ,opening a new vista in modern history .The so called Machiavellian was nothing new but not until 1870s was it systematized effectively and never before the age of Stalin and Hitler was it practiced with such ferocity and coordination never seen before in mortal history .The iron and blood nationalism that followed after 1870s culminated in Nazi Germany and fascist Italy and also led to Soviet Russia advancing iron curtain from Europe to Asia. It instigated like social Darwinists both world wars and global crisis .In the great words of Cavour who accomplished Italian revolution ‘‘if we did to ourselves what we do to our country what a rascal would we be ’’ 


 Rethinking Marx and reforming Marx is the way forwards for a nation ready to develop or in love with this revolutionary idea .That is why I have taken my time to advance neomarxist free market economy , dual or meta-macroeconomics and neomarxism respectively for Nigeria .I briefly appraised them in my books. I wonder what the fate of Nigeria would be if according to Madunagu, it is the BEST option for Nigeria .I believe we are in Neomarxist Era - not neoliberal era and the world economy if adopted will swing from neomarxism to post Marxism as humanity transit from modern age to golden age civilization . The ideals of neoliberal as may be relevant and neomarxism can be merged to create neomarxist free market as sole alternative to conquer world poverty .There is no alternative for both developed and developing countries .This I believed if adopted , Nigeria can grow quickly and we can do in 5 years what could have taken 10-15years to achieve under normal circumstances . We can begin with this platform and then leveraged subsequent unique models as entrenched in this package to usher in universal prosperity for nations that adopted it .Nigeria ’s problem today is lack of development ideology and not corruption or mismanagement as such which is secondary factor .We are in new dawn we must change our mentality and prepare for the adoption .


Not many know that the essence of this blog is to advance the concept and practice of microfinance which is the centerpiece of neomarxist free market economy and neomarxism.It basically deals with strategic impact of the microfinance industry worldwide especially Africa which is to be by content , 60-70 percent for microfinance and 30-40 percent for general economic analysis .Though I posted the African Dilemma –a political essays , this original direction will remain .

It is sometimes expedient for consideration of general economic analysis to be exploited to better align them to dire need of microfinance in an economy .It is by this initiatives that we can weigh its utmost important and optimal effect in economic planning and nation building .References and exposition of macroeconomic models are also needed to compare with the new solution being proffered. It places more emphasis on the fact that foibles in the mainstream formal financial system cannot be resolved without reference to common men to be served by microfinance being the economy of the poor .

Our special reports , interviews and related articles dwell on this axiom We must assess the role of microfinance in poverty alleviation , grass root productivity , microindustrialisation and self empowerment and how relevant are the effect of government policies to their yearnings and plight .Microfinance through its unique free market model would be the beginning of a new dawn in mortal history and the battle to eradicate mass poverty is more than real with this micro financial model. We proffer solution therefore to world macroeconomic problems which I believe cannot be solved unless micro financial model is adopted .