EMPLOYING JOHN STUART MILL’S UTILITARIAN PHILOSOPHY OF ECONOMICS AS A CATALYST TO AFRICA’S SOCIAL AND ECONOMIC DEVELOPMENT
EMPLOYING JOHN STUART MILL’S UTILITARIAN PHILOSOPHY OF ECONOMICS AS A CATALYST TO AFRICA’S SOCIAL AND ECONOMIC DEVELOPMENT

Summary/Abstract: This work examines the significance of Mill’s Utilitarian philosophy of economics in addressing the challenges confronting the social and economic development of Africa. Africa, the second largest continent both by land mass and population, is yet to replicate its size with socio-economic greatness. The continent is still riddled with myriads of socio-political and economic problems begging for solutions. These problems, as the work identifies, range from poor productive capacity, unmotivated labour force, poor capital base, bad foreign market policies, corruption, defective economic policies, bad leadership and lack of political will. This work employing the philosophical tools of textual critical analysis, exposition and evaluation argues that some aspects of J.S. Mill’s utilitarian philosophy of economics can be used as a catalyst to trigger the long overdue social and economic development of Africa. The aspects which the work employed include Mill’s views on production, labour, capital, exchange and international trade.

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