Morality and Economic Policy in Sub-Saharan Africa: The Case of Guinea-Bissau

All countries of sub-Saharan Africa managed their independence at the turn of the 60’s to the 70’s. The Guinea-Bissau became independent in 1973 after five centuries as a Portuguese colony. This paper aims to discuss the morality behind the economic policies in the sub-Sharan Africa focusing specifically in the case of Guinea-Bissau, worldwide known by its development policies in 80’s influenced by the two regimes (socialism and capitalism) that the country lived. Our main assumption is that the implementation of the development policies in many countries of the sub-Saharan Africa and their subsequent failure had much to do with a vision little endowed with economic moralities, but dependent of the traditional descriptions about what is good and taught by textbooks must to be valid everywhere. The Guinea-Bissau became the “fish in the fisherman's net” by accepting this inconsistent idea, mainly under socialist regime lived from 1973 to 1986. The successful policies both in Guinea-Bissau and sub-Saharan Africa, either for manufacturing or agricultural development, depend tightly of internal reform which takes into account several local aspects, including the cultural heritage, which forms the informal institutions, and the local economic practices.