AUA Why Nations Fail - Daron Acemoglu | Page 300

and cook on open fires. Life is certainly traditional, far from the modern existence to the east of the river. By now you will not be surprised that these differences are linked with major differences in economic institutions between the two sides of the river. To the east, in Natal, we have private property rights, functioning legal systems, markets, commercial agriculture, and industry. To the west, the Transkei had communal property in land and all-powerful traditional chiefs until recently. Looked at through the lens of Lewis’s theory of dual economy, the contrast between the Transkei and Natal illustrates the problems of African development. In fact, we can go further, and note that, historically, all of Africa was like the Transkei, poor with premodern economic institutions, backward technology, and rule by chiefs. According to this perspective, then, economic development should simply be about ensuring that the Transkei eventually turns into Natal. This perspective has much truth to it but misses the entire logic of how the dual economy came into existence and its relationship to the modern economy. The backwardness of the Transkei is not just a historic remnant of the natural backwardness of Africa. The dual economy between the Transkei and Natal is in fact quite recent, and is anything but natural. It was created by the South African white elites in order to produce a reservoir of cheap labor for their businesses and reduce competition from black Africans. The dual economy is another example of underdevelopment created, not of under