Keith Hart, the economic anthropologist who, from his research with urban slum dwellers in 1960s Ghana, coined the term ‘informal economy’, announced his intention a couple of days ago to kick-start the writing of a book, Africa’s Urban Revolution, with a series of blog posts. The first in the series appears today, and it is an… Read More »
Ronald Coase, the economist who theorised the reason for the existence of firms, turns 100 today. The Economist’s Schumpeter column has this really nice piece about him: His central insight was that firms exist because going to the market all the time can impose heavy transaction costs. You need to hire workers, negotiate prices and… Read More »
Answer.
By keith Hart. The conclusion: The euro is the most tangible symbol of the European Union, but not co-extensive with it. For the last century or more, member states had supplied their citizens with a monopoly currency that served both as the reification of the national economy and as their principle link to the world… Read More »
By the ever impressive Planet Money team.
Since I have a background in Development Studies, and I am currently trying to develop a research plan for an ethnographic study of the Nigerian financial sector, the following, from Bill Maurer, Professor of Anthropology and Director, Institute for Money, Technology and Financial Inclusion, University of California, Irvine, resonates quite powerfully with me: Because European systems of… Read More »
From Joshua Keating of FP: Taken together, the moral of these studies could be that colonalism isn’t great for a country’s future political and economic wellbeing, but if a country is going to be colonized, they’re better off with the British than the French. Of course, the ideal would be not to be colonised at… Read More »
No less a thinker than Adam Smith suggested that the division of labor in society was dependent upon the existence of markets, or, as he puts it, upon man’s “propensity to barter, truck and exchange one thing for another.” This phrase was later to yield the concept of the Economic Man. In retrospect it can… Read More »
Fund managers should consider African markets such as Ghana, Kenya, Nigeria and Tanzania rather than chasing crowded emerging market trades elsewhere, economist Nouriel Roubini said. “It (Africa) is risky because there is less liquidity and the governance is not ideal. But in comparison to 10 years ago when there was civil strife and unstable governments,… Read More »
If you have been following the news, you know about the shake-up, the rescue and the proposal to buy off bad loans. Reuter’s report on the current state of the industry: Two of Nigeria’s nine rescued banks are in talks with foreign investors about recapitalisation but most of the others are more likely to be… Read More »