ABSTRACT
Liberalism, a system founded on private initiative, private property, and freedom of undertaking and competition, can remove major economic and social obstacles to development in Africa. The present crisis compels Africa to revise its development strategy. African countries, as well as other developing countries, have suffered the effects brought about by the disorder of the international monetary system and by worldwide recession. Small and medium-sized enterprises should favor the diversification of the industrial network, sectorial integration, productive use of labor, and regional redeployment. Small and medium-sized industries are especially well suited for the local processing of raw materials. Private initiative has to take over, to shake off the yoke of diverse bureaucracies, and to get rid of the constraints of old-fashioned regulations. Africa had its first glory days when it gave birth to humanity and bequeathed it civilization.
