Understanding Sierra Leone’S Development: Is Sierra Leone Underdeveloped or in Transition?

By Willie B. Faulkner

This publication, Understanding Sierra Leone's Development, is an authors dream comes true. Sierra Leone, my birth place is at the core of what this book represents and, in its entirety, is about the country's economic and social ordeals and the problems the government is encountering in trying to resolve them. It premise is developmental and it commences with the author's attempt to arouse the interests and emotions of his readers so as to win their attentions. It contents are reliable, precise and simple, intended primarily for a variety of reading audiences but, in particular, our sixth form and college students planning to enter the business world. There are challenging issues for every-one African, Asian, Arab and other foreign students worldwide, and this is also suited for those whose second language is English.

A prelude to the author's introduction enumerates the wave of troubling social events, some of which he considers alien and warns that unless there is the desire of the sitting government to resolve them, they may become obstacles to the country's economic growth. While addressing the country's social problems, the author takes the opportunity, on behalf of his college buddies, to dedicate this publication to their dean (faculty of economics, University of Sierra Leone), the late professor N. A. Cox- George, but to win it reader's emotions, especially the older generation, He idolizes the late governor Clarkson's prayer for Sierra Leone. Chapter 1 is a follow- through but is more detailed in raising the misconceptions of Sierra Leone's traditional values and what they represent. The chapter ends with a call to emulate the lives of the country's departed heroes and illustrious sons, in whose memories the nation should seek spiritual guidance.

Chapter 2 is about development and the misconceptions surrounding the meaning itself, it's concept, analysis, scope and whether Sierra Leone is underdeveloped or in transition. This chapter exhaustively addresses it's classifications and characterization and, in doing so creates a new dimension of classification involving development, the super power doctrine, quite distinct from it political interpretation. By creating the doctrine and attaching it to development, it becomes part of the realms of economic development and, by it doctrine, represents a combination of exceptional economic and military superiority. The doctrine is guided by the presumption, that in warfare, economic strangulation and the domination of sophisticated weaponry should suffice to determine the duration or speedy conclusion of a military campaign. The doctrine takes cognizance of the fact that a prolonged war causes far- reaching loss of humans, properties and money. However, there are exceptions: Iran, Pakistan and Israel which according to World Bank, are not yet fully developed.

Chapter 3 is about the nation's most controversial socio- economic problems, the land tenure- system, which, archaic by it formation and application, remains an impediment to the nation's economic growth. The obstacles to reforms and how they can be resolved are addressed in chapters 3 4 5 and 6, with recommendations, some improvised with caveats to protect the disposal of communal lands. The chapters on monetary policy, complicated as they may appear, are addressed with the utmost sincerity and understanding of underdevelopment. In Sierra Leone, some of it monetary policies are unwise and tainted with precarious government interventions but, our professional experts themselves have their own sides of the ugly stories. Monetary policy, from my perception of underdevelopment is addressed under three improvised crisis levels,(1) the impotence of Sierra Leone's land- tenure system, (2) a new hypothetical approach called, the Faulkner's tug of monetary war sessions, or the Faulkner's hypothesis and (3) the Bank of Sierra Leone dilemma.

Faulkner's hypothesis,

When two pa

• Language: English
• Publisher: Xlibris US
• Release date: Feb 18, 2014
• ISBN: 9781493158607

Book preview

Copyright © 2014 by Willie B. Faulkner.

Library of Congress Control Number:   2013923641

ISBN:      Hardcover         978-1-4931-5859-1

                 Softcover         978-1-4931-5858-4

                eBook               978-1-4931-5860-7

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Contents

ABOUT THE AUTHOR

SYNOPSIS. UNDERSTANDING SIERRA LEONE’S DEVELOPMENT.

INTRODUCTION

CHAPTER (1)    Sierra Leone’s Traditional Values

CHAPTER (2)    How Developed Are We?

CHAPTER (3)    Sierra Leone’s Land-Tenure System

CHAPTER (4)    Land Ownership And Productivity.

CHAPTER (5)    Crisis One. Monetary Policy And Underdevelopment.

CHAPTER (6)    Crisis Two. Faulkner’s Tug Of Monetary War. Or The F’ Tom War Hypothesis

CHAPTER (7)    The F’tom War Is On.

CHAPTER (8)    International Monetary Fund And The World Bank.

CHAPTER (9)    Crisis Three. Central Banking. Bank of Sierra Leone’s Dilemma

CHAPTER (10)    The Wilkinson Road Reconstruction Financing.

CHAPTER (11)    The Leone Credibility As A Viable Currency.

CHAPTER (12) The Economic Community of West African States, (ECOWAS)

CHAPTER (13)    The Bumbuna Hydro Project The Announcement, Phase 2 Initiative

CHAPTER (14)    Waterloo, A Story Of Plunder Or Depredation. Slavery, A Forgotten History.

CHAPTER (15)    An Author’s Conclusive Speech

QUESTIONS AND ANSWERS

NOTES AND ACKNOWLEDGMENTS

BOOK INDEXES

ABOUT THE AUTHOR

W ILLIE. B. FAULKNER, at age 75, a Sierra Leone Creole by birth, and a U S citizen. By the grace of the good Lord, I’M still alive. In 1988, I emigrated to the United States, married with five children and my wife’s name is Muna. An alumni of the University of Sierra Leone, graduating with a distinction in principles of development economics. In 1971-1972, I was recruited as an executive assistance, by the Bank of Sierra Leone, the country’s central bank, and among my fellow recruits and bank colleagues, was my college buddy, the former minister of finance and current foreign minister, Dr Samura Kamara. From 1972 to 1988, I rose through my bank ranks, and as section head of the reserve management division, in the foreign department I participated in seminars abroad. In 1984, at a sponsored Citibank seminar in Monrovia, Liberia, my presentation was on the international financial institutions, and that same year as the guest of it’s foreign department, Bank of China, my memorable moment was the exploration by me of the great wall of China, one of our seven ancient world wonders.

In 1980-1986, as a result of incidents of protracted civil unrest, their scope and intensities, and me being frightful of a potential catastrophe, reluctantly I made my most difficult decision in life, my emigrating to the United States, leaving my aging mother and children behind to join my younger brother and sister. It was a wise decision I later came to realize, because after my departure the nation-wide unrest worsened. With the intermittent closure of schools, and the safety of the entire population, the outcome of the crisis itself became unpredictable. To support my case, during the course of the civil war, my new building complex in Waterloo was first invaded, and rampaged by the pro-government force and later on, was again set on fire by the rebels. In 1994, before the civil crisis erupted into a full blown war, I returned to Freetown, Sierra Leone, for my late mother’s funeral.

On my return to the United States, my determination to get our kids to join us became our utmost concern, but thanks to the hospitality of this Godly nation, the United States. In 1996, our reunion occurred and just few months after our kids arrival the civil war exploded. The atrocity was beyond one’s imagination, and the aftermath of the depredation was described by CNN, and the movie, Blood Diamond.

To a beloved friend, and from our school days, a reliable colleague, Dr Abdulai Conteh, Sierra Leone’s former foreign minister and vice president, former chief justice, the state of Belize, I crave your acceptance of my felicitation. Abdul, I miss you, and to you, I dedicate my book also, Understanding Sierra Leone’s development, subtitled,

Is Sierra Leone underdeveloped, or in transition? Find out.

SYNOPSIS. UNDERSTANDING SIERRA LEONE’S DEVELOPMENT.

W ELCOME TO THE subject of Development Economics, an author’s application of the mechanics of economics to unravel the intricate process of underdevelopment. Understanding Sierra Leone’s Development is an author’s dream comes true, and Sierra Leone, the author’s birth place, is at the core of what his book represents. It is about the country’s economic and social ordeals, and the problems the government is encountering to resolve them. From a broader perspective involving the emerging nations of Africa, the premise is development, and the problems associated with it are similar and basically, the designs of poverty and illiteracy. Furthermore, there is the misconception of the meaning itself, it concept, analysis, scope, and whether Sierra Leone, is underdeveloped, or in transition. The task of this publication is to acquaint the readers with the facts, and let them be the judge.

In his prelude, the author enumerates the wave of troubling social events plaguing the country, some of which he considers alien, and warns that unless there is the desire of the sitting government to resolve them, they may become obstacles to the country’s economic growth. While addressing the country’s social problems, he takes the opportunity on behalf of his college buddies, to dedicate his publication to their dean, (faculty of economics, University of Sierra Leone, the late professor N. A. Cox-George. He idolizes also, the late governor Clarkson’ s prayer for Sierra Leone. Chapter 1 is a follow—through but, is more detailed in raising the misconceptions of the country’s traditional values, and what they represent. The chapter ends with a call to emulate the lives of the country’s departed heroes, and illustrious sons in whose memories the nation should seek spiritual guidance. Chapter 2, addresses exhaustively, the classification and characterization of development, and in doing so creates a new dimension of classification, called the super power doctrine.

Disturbing events and case studies, involving waste and mismanagement among others are highlighted, and exhaustively addressed. Author Faulkner claims that the country’s land tenure system is archaic and in disarray, and considers the Wilkinson road reconstruction project ill-advised, wasteful, and politically motivated. On the problems of what he describes as Africa’s practice of systematic corruption, the author defines corruption as a new dimension of crime against humanity. He distinguishes between genocide proper, and disguised remote genocide. On the Economic community of West African states, he enumerated the inconsistencies in the organization’s modalities, and how ineffective they are in promoting integrated sub regional trade relations. His advice to the African leadership, and in his own words, Set Africa’s house in order and paradise will emerge. The author discusses the country’s projected billion dollars, Bumbuna phase II, hydro project and condemns it. On the impotence of the Bank of Sierra Leone, the country’s central monetary authority, he questions the professionalism of the governor, and the institution inability to sustain the credibility, and value of the Leone currency. The author warns, that the new Grafting-Regent motor road project, is a recreation of the country’s once Orogu hill phantom, notorious, and dreadful, and the recipe for a disaster waiting to happen. He introduces his new hypothesis on development, and from an historical perspective, analyzes the depredation of the township of Waterloo, a symbolic moment he claims, as his new building complex stands in ruins and yet, functioning as a learning center. The image of the township’s kindergarten kids standing beside it, epitomizes his story. Mr. Faulkner maintains, that his book should bring moment of pride and jubilation, not only to him, but to all the descendants of Waterloo at home and abroad.

His book identifies the developmental problems, analyzes them, and raises the depth of the implications as they relate to development. The means by which these problems can be either minimized or resolved are provided, and for every issue raised, there is a solution with some improvised, like the Faulkner’s hypothesis. There are some solutions with caveats, and case studies with descriptive images also. In his summation the author maintains, that his objective, is to address the process and scope, of the developmental problems associated with the emerging African nations, and because of the similarities, his country of birth Sierra Leone, becomes the focal point of interest. The contents are simple, precise, and more adaptable to students from Africa, Asia, and the Arab countries, whose second language is English.

The author’s hypothesis on Africa’s developmental problems, is an adaptation of the basic laws relating to demand and supply, but they are distinct, and can be extended from the playing fields of nations Omega and Alpha, to cover the dominance of teams involving baseball, soccer, football, basketball, or other competing institutions. In the pursuit of dominance, technological sophistication and diversity are the defining