How education has given Africa a greedy, corrupt elite

Abstract

opinion Nairobi — It was the Harvard don Joseph Schumpeter who predicted 50 years ago that entrepreneurship would be a victim of its own success, because an educated class will arise "that will have the power of the spoken word but no direct responsibility for practical affairs."

Fifty years earlier, Thorstein Veblen had written about conspicuous consumption in which the wealthy show off in public what they own.