After Hours The Future of Africa and Empty Lots
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Nov 22, 2023 Kerry Elkins, a Harvard professor specializing in African history and entrepreneurship, dives into Africa's promising future and the challenges it faces. He discusses the continent's demographic trends and the potential for economic transformation akin to China's rise. The conversation shifts to vacant lots and housing crises, advocating for innovative land taxation to stimulate development. Elkins also highlights the importance of grassroots change and local experimentation in shaping social transformation in contemporary urban landscapes.
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Africa's Demographic Dividend
- Africa's potential is tied to its young, growing population, forecasted to be a quarter of the global workforce by 2050.
- This demographic shift presents both immense opportunities and challenges for sustained growth.
Africa's Heterogeneity
- Africa's diversity (54 countries, various economies) makes generalizations difficult, unlike China or India with more unified political actors.
- The question arises whether such heterogeneity hinders or benefits Africa's development.
Focus on Inclusive Growth
- Focus on developing labor-intensive, homegrown businesses that cater to a wider range of consumers beyond the super-rich.
- This approach promotes job creation and more equitable distribution of economic benefits.