Econocracy is the economic determination of political objectives. In other words, the economic needs of the people determine politics, not politics determining the economic needs of the people. This will imply that in a given political set up, the people should first identify their economic needs, which should in turn drive the political superstructure.
The approach of African nations to use politics to define their economic objectives is flawed and has not worked. Since nations are considered developed or undeveloped by the standard of living or quality of life of the people, which is primarily an economic issue, the economic needs of the people should consequently determine what the political objectives of a nation should be.
