The end of the World War II saw European colonies in Asia and Africa marching towards independence. First, it was India, Burma, Indonesia in Asia then Ghana, Nigeria, Democratic Republic of Congo (DRC) and almost all French colonies in Africa.

Textbooks on the theory of economic development appeared advising the newly-independent countries to achieve economic independence by an industrial policy known as import substitution. This involved manufacturing products which were being imported and hiking tariffs on imports to protest the infant industries.

In Malawi, import substitution was pursued through the Malawi Development Corporation (MDC). A textile factory and a factory making batteries were among the industries that sprouted under the import substitution policy. But in Malawi as in developing countries, import substitution failed to entrench industrialisation.

During the recent election debate, we heard of what each political party was going to do to transform the economy. Our first president Dr Banda had promised within a short time to transform Malawi into the Denmark of Africa. By the end of his 31 years old regime, the only resemblance between the Danes and Malawians was that they were enjoying Carlsberg beer. Now 50 years, the dream of making Malawi the feeder of Africa remains to be realised.

What theory or theories must we adopt in the course of trying to transform the economy of our country? Modern economics is the invention of the Anglo-Saxon world. Since Adam Smith published The Wealth of Nations, the most renowned economists have been either British or American. At the moment, almost every year, the Nobel Prize winner in economics is an American.

If the presence of top-notch economists were an exclusive advantage in generating wealth, Britain and USA ought to have remained dominant in the global economy. They were not. Though the US is the richest country in the world, in the 1970s and 1980s, it was constantly growing against the aggressiveness of the Japanese world markets especially in the American market. Now, the US is saying the same things against China.

Of western countries, Germany is the top exporter. German scientists have had more influence in the world of knowledge and invention than German economists.

The economists serving the country of the South East Asia are mostly graduates of western universities especially American and British. What we understand is that they have applied market-based economics not quite in the manner Anglo-Saxon text book writers advise. They have adopted the theories to their own culture.

The State has been more involved in the management of the economy. However, it is not civil servants who operate businesses, but private business. Government acts as a catalyst, philosopher, friend and to a certain extent financier.

More than 80 years ago, an American writer on success and motivation wrote a book Think and Grow Rich which was addressed to individuals not States or governments. But its message is applicable to governments or States which after all are collections of individuals according to national constitutions.

“Show the light and the people will find the way,” Dante Allighieti so pleaded with God. Amongst us, there must be someone or a collection of people holding a lantern in front of business people and the bureaucracy so that the latter may find the way to wealth. Of course, Benjamin Franklin, one of the fathers of the American Revolution wrote that the way to wealth is made basically of two terms: Industry and frugality plus blessing of the Almighty. But these slogans must be interpreted by someone who knows them better.

Some NGOs are funded by either the Malawi Government or the donors to promote democracy and human right. It is high time the funds were diverted to a body of technocrats and university dons that would do research relating to our economic problems and opportunities. The first recipient of such funds should be the Economics Association of Malawi (Ecama) whose agenda should then be rephrased.

Of course human rights must be relegated to the limbo. But it is difficult to see one person said to be an executive of an NGO quizzing the nation in matters of human rights or democracy.

The body I am talking about will consist groups of highly qualified people. Civil servants are too busy with routine work. They are not able to spare time to think of new and original ideas about implementing the economic programmes of the country.

Great ideas when experimented do bring changes. These ideas can surface through brainstorming.