Inspired by Elon Musk’s interview where he asserted that “Economies are not money”, this article will explore this anti-intellectual and yet revolutionary notion. It is probably heard in Economics lectures across the globe every year, but when it is backed by one of the brightest minds of the century it does fuel the left wing posturing on the doom of neo-capitalism.
The exceptional efforts made by FANO to avert the genocide decreed on the Amhara people, by way of incessant ahistorical propaganda against the history of Bete Amhara of Abyssinia, got me wondering how they are able to maintain a functioning economy in what could be described as a state of anarchy. That is when I heard the speech by Elon Musk supporting the idea that the people are what give an economy meaning, which got me researching what I have dubbed the ‘FANO economy’.
Equb and Bartery
There are instances that have been reported where communities have resorted to traditional tendering to run the economy such as barter and equb (communal money lending based on trust). In this case ‘Trust’ refers to both the legal and social understanding.
Islamic communities in Amhara have similar arrangements based on Islamic Banking principles at local scale and with the exception of large financial projects such as infrastructure investment and large sum loans. The funding is limited to the scope of the financing of goods and services deemed necessary for the popular struggle.
As Jurgen Brauer et. al highlight in their book “Economics of War and Peace: Economic, Legal and Political Perspectives” (2016) by Springer -
“Understanding the economics of war and peace requires a multidisciplinary approach, integrating economic, legal and political perspectives to provide a comprehensive analysis of conflict dynamics.”
Thus, it is with this approach in mind that we must begin to closely assess what can only be described as a war-time economic model that might actually be more reflective of the historical condition of the Amhara people as a whole rather than any analysis contemporary pertinence.
Agriculture
Alas, it should be viewed as a matter of culture and active participation of the Amhara people in designating their state in such a way for there have been plenty of opportunities in their long history to have alternative ‘modern’ state structures.
For instance, since the times of the invasion of Ahmad ’the left handed’ the bread basked of the country, Amhara, grows a variety of crops including teff, wheat, barley, maize, millet, legumes, oilseeds and coffee. It had been cut off for close to a decade in that period without needing export revenue or imports.
In other words, the Amhara region has all it needs to survive many years of siege and with it the social psyche to do so. In fact the Amhara kingdom of Abyssinia has long survived without contact with the outside world even before Ottoman backed invasion. As Edward Gibbon FRS (1785) once famously said in a speech to parliament-
“Encompassed by the enemies of their religion, the Abyssinians slept for near a thousand years, forgetful of the world whom had forgotten them”.
Custom Duties
FANO also collects custom duties and is de-facto in charge of tax collection in large swathes of the region, only with the possible exception of the large cities of Bahir Dar and Gondar. Though life in the cities has become taxing for residents since the imposition of the State of Emergency by the failing government policies, city dwellers are living in a state of limbo.
Therefore, it has become apparent to the wider populace that indeed FANO is government in the region and possibly in the country with ethnic Gurages, Gambellas and others showing support. The implementation a variety of measures to maintain a semblance of economic activity despite not having a formal banking system or recognized government are drawing sympathy vertically too from upper echelons of society.
In a separate article we had noted the Amhara’s long history of sustenance farming and that of course would form the pillar of this economy, but it requires some coordination and inventiveness to replace many of those other imported goods in short supply- such as diy equipment and chemicals.
In this respect, it is not far-fetched to assume that if a FANO or FANO inspired government should take control of the Amhara region, some of these war time economic policies that they had adopted could be retained and modified for a peace time economy.
Foreign Relations
Though not official or formal, it is an open secret that FANO is receiving financial support from sympatethic entities around the world as well as individual support from powerful individuals both within and outside of the country.
While this may not be sufficient to run the economy, it has proven vital especially in the early stages of the struggle of the Amhara people. The lion share of foreign support comes from Amhara-centred CSO’s as of 2024, a year into the struggle.
There are ongoing efforts to align asymmetrically postured organisations to support the Amhara struggle in their respective regions/countries, domains and otherwise. This kind of support is usually and mainly political support in various activities such as raising awareness, but it has been incredibly difficult to draw their attention.
One example of such an initiative is connecting Iranian monarchists with Ethiopian monarchists, drawing similarities between the decline of their societies’ simultaneity with the fall of their monarchies. This is spearheaded by members of the exiled royal family and of the Ethiopian Royal Congress (ERC).
However, as one could imagine such initiatives and partnerships though profound with wits and sentimentally charged, rarely produce revolutionary outcomes- or at least, so far in history. The alternative may lie in a win-win approach of sorts that can be sought with special interest groups- as undesirable as those may be.
War Economy
The ongoing conflict in the Amhara region means that the economy FANO has to regulate has very little external debt recognition. Curfews imposed by both central government but also FANO itself sometimes, means that regulating trade to limit public excess is easier than in a peace time economy. Austerity measures are widespread and the people are almost entirely behind the struggle.
It is important to recognise that FANO’s governance and ongoing stewardship of the economy is characterised by significant challenges and the methods employed, while not always perfect, are allowing the people’s voice to be heard. Central government appears more ready than ever to listen to the Amhara people’s demands and the organization that has been funded is delivering the key messages of the people steadily.
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