It is assumed that development cannot take place where there is political instability. The situation in Ghana’s political history seems to contradict this assumption. With the use of existing literature and documentary analysis relevant to the work, the author explores the socioeconomic situation of post-independence Ghana under the various regimes over the years. He investigates the genesis of Ghana’s political instability and economic decline which is alleged to have begun with Dr. Kwame Nkrumah the first President of Ghana. The author argues that, Ghana’s economy declined drastically between 1960s and 1980s – a period characterized by military and civilian governments. The author maintains that, what is known about the country today shows that Ghana’s economy under some of the military regimes was better than during the civilian governments. He argues that, if the economy of Ghana is improved with increase in salaries and better social infrastructure, military coups are less likely to happen thus consolidating stability and development. The book is a contribution to understanding the complex relationship between political stability and development in Ghana.