yimg
We were convinced that political economy was the most
appropriate tool to come to analytical grips with the colonial legacy. The
great contribution of underdevelopment theorists was to historicize the
construction of colonial markets and thereby of market-based identities. The
popularity of political economy spread like a forest fire in the
post-independence African academy precisely because it historicized colonial
realities, even if in a narrowly economic way. Political economy provided a way
of countering two kinds of colonial presumptions, embedded in various theories
of modernization.2 The first was that colonial cultures were not grounded in
historical processes. The second was that colonial contact marked the beginning
of a history for these societies, since colonialism was presumed to have
animated them culturally, economically, and politically.