"The western capital dried up" or this might better be described as capital "capital was invested in Africa to extract materials" but these investments shaped capital as migration capital does, as easily recovered resources are depleted or demand shifts. the capital migrates again, leaving only its traces, which may or may not have had any effect on the locals, bad or good.
Africa is an agglomeration of self organized societies, tribal.
The pressures to organize a sustaining market are defeated by the self interest manifested by the tribes with respect to tribal needs. Because needs in Africa are not homogeneous, the tribes cant agree on what defines a market. The platinum and diamonds of South Africa did not have pervasive utility to the tribes who might have mined them, and thus the tribes left them alone.
Most are confused by the disconnects between value and valuation. Only the operator, whose perception of broader demand, outside of localized conditions can capitalize on a resource. if locals are used in the extraction period, its the local who choses to remain local or to adapt, by way of perception a worldly participatory market view.
When local needs are being codified by tribal life, local needs will sustain local characteristics, if local needs are disjoint by terms, too harsh to sustain a local life, a broader perception or self awareness, might evolve and replace the character of any given persons places or things.
this then defines the problem of value and valuation. |
