First published in 1986, this work challenges underdevelopment analyses of Africa's past experiences and future prospects, and builds upon a very wide range of historical research to argue that the impact of Capitalism has resulted in economic progress and significant improvements in living standards. 'Witheringly critical of dogmatic World Bank and IMF beliefs that state intervention as such is likely to reduce economic welfare ? The strength of the book is its thoroughly empirical foundation' - Journal of Southern African Studies 'Sender and Smith have provided much to argue about and their book can be recommended as a lively treatment of its subject and not least for its caustic rebukes to the faint-hearted. Anyone wearied by the writings of neo-Marxists, dependency theorists and populists on Africa can find relief here.' - Times Higher Education Supplement