The left, economic crisis and alternative development paradigms

Abstract

Purpose: The purpose of this study was to examine the left economic crisis and alternative development paradigms.

Methodology: The study used desktop research methodology.

Results: In appraising options in the globalized economy, the Nigerian state should re think market policy and the nature of mix between the state and market. The state and market should co-exist and compete amid a superintendent role for statist structures. In other words, the state should supervise the market with a view to protecting the interest of the weak and vulnerable social groups. It should play a leading role in development, identify, and pursue relevant development agenda required to exit Africa's structural distortions and underdevelopment.

Conclusion: The Nigeria's political economy demands that development should be predicated on human progress, qualitative development, and the capacity to conquer and adapt to the physical milieu.