This paper examines the underlying assumptions about socioeconomic transformation within the dominant approaches to the political economy of African countries. We argue that the dominant frameworks within African Studies miss important aspects of contemporary processes of socioeconomic change....

First, I update and wrap up the discussion on a monetary growth imperative, namely the argument that debt-money bearing interest triggers real GDP growth. I provide a detailed account of the different versions of the argument and show why none of them hold. In all cases, the argument is shown to...