The Cultural Foundations of Economic Development
One of the principal reasons why international aid programs have
often been unsuccessful is that imported solutions are not based
upon the indigenous institutions in African countries. In The Cultural
Foundations of Economic Development, Emily Chamlee-Wright argues
that connections between these institutions and the cultural context
which produces and sustains them has been misunderstood by
mainstream economic theory which is fundamentally acultural.
Instead, Chamlee-Wright argues, the economics of the Austrian
school provide a far stronger theoretical framework which can
introduce cultural analysis into questions of economic development
and other market processes.
The author draws on extensive ethnographic field research as
well as a challenging and original critique of mainstream neoclassical
analysis in a detailed case study of women entrepreneurs in Ghana.
- Emily Chamlee