OPINION: A social market economy for East African integration
Originally published by Citizen Digital — Read the original article →
By Ahmed Farah and Anja Berretta
Regional integration will not be possible without countries reducing barriers to trade, investment and movement of goods and services. However, a common economic space requires rules that are observed by everyone, even though not all Partner States, businesses or workers might benefit equally. How can this dilemma be resolved?
That is where the Social Market Economy model offers East Africa a useful starting point. The Social Market Economy seeks to combine the efficiency and innovation of a free market economy with instruments of social justice and social protection. The central idea is to leave as much freedom to the market as possible and reduce state intervention to where it is necessary.
