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Economists have devoted considerable effort to explaining how a market economy functions, but they have given a good deal less attention to explaining how a market economy is formed. In this book, Jean Ensminger analyzes the process by which the market was introduced into the economy of a group of Kenyan pastoralists.
She employs new institutional economic analysis to assess the impact of new market institutions on production and distribution, with particular emphasis on the effect of institutions on decreasing transaction costs over time. Having compiled an extraordinary longitudinal data set that tracks a group of households over considerable time, she traces the effects of increasing commercialization on the economic well-being of individual households, rich and poor alike.
In addition, employing anthropological methods, she analyzes the process by which institutions themselves are transformed as a market economy develops. Changes in labor relationships, property rights, and the transfer of political authority from the council of elders to the state are considered in particular detail
- This case study points out the importance of understanding the roles of ideology and bargaining power - in addition to pure economic forces, such as changing relative prices - in shaping market institutions. The combination of new institutional economic analysis and richly detailed anthropological case study produces a work full of insights that may serve as the basis for a more adequate theory of economic development and social change.
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Subjects
Economic anthropology, Economic conditions, Institutional economics, Nomads, Oromo (African people), Sedentarisation, Industries, africa, Africa, commerce, Marketing, Sedentarization, Galla, Marktwirtschaft, Nomade, Sesshaftigkeit, Wirtschaftsreform, Ökonomische Anthropologie, Fallstudiensammlung, ECONOMIC REFORM, PUBLIC INSTITUTIONS, ECONOMIC DEVELOPMENT, ECONOMIC ANALYSIS, KENYA, CASE STUDIESPlaces
KenyaEdition | Availability |
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1
Making a Market: The Institutional Transformation of an African Society
2021, Cambridge University Press
in English
1139174010 9781139174015
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2
Making a Market: The Institutional Transformation of an African Society (Political Economy of Institutions and Decisions)
September 13, 1996, Cambridge University Press
Paperback
in English
- New Ed edition
0521574269 9780521574266
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3
Making a market: the institutional transformation of an African society
1992, Cambridge University Press
in English
0521420601 9780521420600
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Book Details
Edition Notes
Includes bibiliographical references (p. 182-197) and index.
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