PROFESSIONAL EDUCATION 
with Dr Robert K Glah,
LLB (Hons) [London]; LLM [London]; PhD [London]; of the Inner Temple, Barrister; Solicitor and Advocate of the Superior Courts of Justice, Ghana Director London Graduate School of Law, London.

CAPITALISM

CAPITALISM is a democratic doctrine of free and unrestricted access to finance for production and distribution of goods and services and for elimination of absolute poverty worldwide. But the brand of capitalism which the G8 countries thrust on the non-G8 countries and Africa discredited capitalism as much as other exoteric ideas which undermined faith in capitalism and the rule of law. That brand of capitalism did not improve the quality of life in Africa and it failed to prove its virtues in the developing countries. The purpose of capitalism is to awaken hilarious consciousness across the board and the boundaries under the rule of law. 

Reinvention of Africa must be achieved through capitalism free from foreign corruption. Capitalism based on strict adherence to truth and disclosure of information and competition is the way to better quality of life for the people worldwide. No room for fraud in capitalism. The regulators must be well armed and focused within and without. The G8 countries are USA, Canada, the UK, Italy, Japan, Germany, France and the Russian Federation. The agricultural subsidies fraud and the tariff and non-tariff fraud do not only distort competition but harmful in the developing countries. But this is not relevant in the G8 countries. Domestic political considerations in the G8 countries outweigh international politicking. Africa should not cave in to any external or internal fraud for the benefit of that pressure. Our common humanity and spirit must be respected by all.

Tax! Erosion of the tax base by evasion and avoidance should be controlled. The purpose of the tax system is income redistribution: managing demand and supply through the tax base and impost. This implies one Minister of Finance for the United African States (UAS) responsible for managing capitalism in Africa by fiscal and monetary measures and through a vigorous Public Private Finance Initiatives. Incidentally the current 54 Ministers of Finance in Africa will become redundant. 

Foreign exchange finance! Policymakers should review the capital account and the current account standards and the national reserves in order to guarantee access to liquidity in the system for all central banks. That assumes that the 54 African central banks are merged into one African Central Bank (ACB) with a single African currency in order to cope with the volatilities in the world market price in commodities, shares, currencies and interest rates. The regulators will engage the foreign banks and their clients in acquisitions and mergers throughout the UAS. Else the UAS will become the damnable victim of the credit derivative and hedge fund speculators of the G8 countries. All these assets are weapons of mass destruction of liquidity. 

Recommending one ACB would make the 54 Central Bank Governors redundant: nothing will ever converge. Accept my sympathy. The 54 African countries must go on a fast track decision-making process in order to catch up with the global changes under the rule of law. It is no good indulging in self congratulations and photo call with no visible performance output for the benefit of Africa or blaming the USA dollar or the oil price. The current 54 Central Bank Governors of Africa and the Senior Economists should know better! 

The UAS democracy means one overriding Executive African President responsible to Africans for the administration of the African nation of about 800 million people united in the new School. At that stage the incumbent 54 state Presidents would become redundant but would be elevated to the Senate for life. Africa would benefit from that historic redundancy. The policy of divide and rule in Africa will collapse and die by its own weight. The G8 countries will then stop it to listen to Africa. True capitalism and freedom and the overriding rule of law will emerge in Africa. Economies of scale will prevail throughout the new African rule of law to save £trillion in the cost of administration of the UAS. Africa will trade with the world with a single African currency. The infrastructure and communication system will be modernised second to none with public private finance initiatives. The markets will be awash with global liquidity boom at very low interest rate hovering at 2%. The golden age of African business champions will emerge from the underground. Talent and the genius will be liberated in Africa and the world. Africa will no longer be a vassal nation. Militarism will die for good in Africa and the world. Better health will be guaranteed in Africa by Africans and for Africans. The sacred elephants will be set side. Africa will no longer be a millstone around the neck of Europe. The beautiful African women will lead the African Revolution with their mystiques of love as their banners standing out sky-high with the inscription: blood is thicker than water, and marching on victorious throughout the UAS. Every internal barrier will disappear.

Africa will recover from spiritual death for disbelief. Reward for belief will overflow. The overriding rule of law and human rights will prevail across the boundaries to establish the benchmarks for freedom forever. Confidence will be restored. Are these benefits against nature?

Capitalism is a democratic institution based on trust. African leaders should sacrifice themselves and not Africans for the development of Africa: Golgotha is too far for Africans. Trust is better than sacrifice! The UAS democracy is the solution for better quality of life and freedom in Africa under supranational law. The issue of UAS democracy must be decided prompt by a Referendum in the 54 African countries and not by coups d'etat. The London Graduate School of Law (LGSL) exists to promote professional education, training, skills and the rule of law for liberation of talents and the genius and human capital worldwide. Follow the African echo!