This new volume from the Society for Economic Anthropology examines the unique contributions of anthropologists to general economic theory. Editor Jean Ensminger and other contributors challenge our understanding of human economies in the expanding global systems of interaction, with models and analyses from cross-cultural research. They examine a broad range of theoretical concerns from the new institutionalism, debates about wealth, exchange, and the evolution of social institutions, the relationship between small producers and the wider world, the role of commodity change and the formal/informal sector, and the role of big theory. The book will be a valuable resource for anthropologists, economists, economic historians, political economists, and economic development specialists. Published in cooperation with the Society for Economic Anthropology. Visit their web page.

In Making a Market, Jean Ensminger analyzes the process by which the market was introduced into the economy of a group of Kenyan pastoralists. Professor Ensminger 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. This study traces the effects of increasing commercialization on the economic well-being of individual households, rich and poor alike, over considerable time and analyzes the process by which institutions themselves are transformed as a market economy develops. 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.

Economists have devoted considerable effort to explaining how a market economy functions, but they have given less attention to explaining how a market economy is formed. This work analyzes the process by which the market was introduced into the economy of a group of Kenyan pastoralists. It 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. This study traces the effects of increasing commercialization on the economic well-being of individual households, rich and poor alike, over considerable time and analyzes the process by which institutions themselves are transformed as a market economy develops. Changes in labour relationships, property rights, and the transfer of political authority from the council of elders to the state are also considered in particular detail.

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 Making a Market, Jean Ensminger analyses the process by which the market was introduced into the economy of a group of Kenyan pastoralists. Professor Ensminger 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. This 1993 study traces the effects of increasing commercialisation on the economic well-being of individual households, rich and poor alike, over considerable time and analyses the process by which institutions themselves are transformed as a market economy develops.