Description
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Research Paper (postgraduate) from the year 2017 in the subject Business economics - Economic Policy, grade: 73%, University of Pretoria, course: International Relations, language: English, abstract: The concept of social learning by Peter Hall has created a wide scholarship which supports the fact that a paradigm shift in a policy change could successfully occur through the promotion of knowledge and new ideas instead of a focus on power relations of the influencers of policy. This research paper operationalizes the concept of social learning in the context of the relationship of Bretton woods institutions and African countries. The paper assumes that the failure of the paradigm of neo-liberalism which was imposed by the Bretton woods institutions in their focus on institutional power relations, hegemony and hierarchy to African countries means that the African continent needs a paradigm shift in its countries' public policy, especially in its countries' macro-economic policies.Scholars have published their dissatisfaction with neo-liberalism as they claim that it impacted the African countries negatively and further worsened their economic crisis instead of stabilizing it. The paper proposes the application of the concept of social learning in the process of policy formulation by African countries so as to reach a paradigm shift, replacing the paradigm of neo-liberalism with an African produced paradigm.
