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Book synopsis

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.

Book details

Book category Books in English Economics, finance, business & management Economics Political economy

• Full title: Making a Market
• Subtitle: The Institutional Transformation of an African Society
• Author: Jean Ensminger
• Language: English
• Binding: Hardback
• Number of pages: 230
• EAN: 9780521420600
• ISBN: 0521420601
• ID: 02030301
• Publisher: Cambridge University Press
• Weight: 470 g
• Dimensions: 235 × 157 × 16 mm
• Date of publishing: 27. November 1992

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