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Marginal Gains: Monetary Transactions in Atlantic Africa (Lewis Henry Morgan Lecture Series)

Marginal Gains: Monetary Transactions in Atlantic Africa (Lewis Henry Morgan Lecture Series)

Current price: $30.00
Publication Date: March 1st, 2004
Publisher:
University of Chicago Press
ISBN:
9780226311166
Pages:
232
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Description

In America, almost all the money in circulation passes through financial institutions every day. But in Nigeria's "cash and carry" system, 90 percent of the currency never comes back to a bank after it's issued. What happens when two such radically different economies meet and mingle, as they have for centuries in Atlantic Africa?

The answer is a rich diversity of economic practices responsive to both local and global circumstances. In Marginal Gains, Jane I. Guyer explores and explains these often bewildering practices, including trade with coastal capitalism and across indigenous currency zones, and within the modern popular economy. Drawing on a wide range of evidence, Guyer demonstrates that the region shares a coherent, if loosely knit, commercial culture. She shows how that culture actually works in daily practice, addressing both its differing scales of value and the many settings in which it operates, from crisis conditions to ordinary household budgets. The result is a landmark study that reveals not just how popular economic systems work in Africa, but possibly elsewhere in the Third World.

About the Author

Jane I. Guyer (1943-2024) was professor emerita at Johns Hopkins University. She is the author of many books, including Marginal Gains: Monetary Transactions in Atlantic Africa, Legacies, Logics, Logistics: Essays in the Anthropology of the Platform Economy, and a new translation of Marcel Mauss’s The Gift: Expanded Edition.