Political Ideologies in Ghana and Their Effects on the Private Sector, 1957 to 2010

POLITICAL IDEOLOGIES IN GHANA AND THEIR EFFECTS ON THE PRIVATE SECTOR; 1957 TO 2010

Introduction

An ideology is a set of aims and ideas that directs one’s goals, expectations, and actions. The main purpose behind an ideology is to offer change in society, and adherence to a set of ideals where conformity already exists, through a normative thought process. Many political parties base their political action and election program on an ideology. A political ideology can also be seen as the best form of governance or the best form of economic system held by a dominant class in a society and proposed to all members of this society. Political ideology has two dimensions: Goals: How society should function or be organized. Methods: The most appropriate way to achieve this goal. Examples of political ideologies that have been exhibited so far include: Anarchism, Conservatism, Environmentalism, Feminism, Liberalism, Nationalism, Religion and Socialism.

Policies formulated by governments are always in line with these political ideologies. These policies formulated vary from one political ideology to another, each has its advantage and disadvantages and each also impacts the society as a whole and affects the private sector of the society either adversely or favorably

Dr. Kwame Nkrumah 1957 – 1966

President Nkrumah believed that only a socialist and a centrally planned economy could help achieve his goals. Socialism became his underlying political and economic philosophy. As a result of this philosophy, the state established in the service sphere and companies jointly owned by the state and foreign private interest were set up. Many Nkrumah – era investments were monumental public works projects. The CPP political ideologies were responsible for many state owned enterprises in various industries such as; agricultural, mining, telecom and electricity. Although these were good economic policies, the political environment discouraged private investments and...