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Jason Weinberger
The Transition to a Market Economy: Pros and Cons
In her book, Ensminger describes the transition of the Orma, a Kenyan pastoral society, to a more modern market economy. ... However, contact with outside civilizations increasingly led the Orma to become involved in the world market and to become more sedentary in the process. ... The negative changes included greater poverty for those that could not adapt to market conditions but mostly lay in the loss of social institutions, a sense of community, and a loss of tradition. ... The new institutional economics (NIE) approach is critical to understanding the transition of the Orma to a market economy. ...
During the 1980’s a change in institutions created a safer market, leading to more opportunities for the poor to participate. ...
The poor gained new opportunities through the market, but not to the detriment of the rich. ...
New market conditions created property rights, ubiquitously accepted currencies and banking systems and this caused increased reliance on the national government and thus undermined powers that were previously under the domain of the elders. This creation of the market also had the effect of decreasing the influence of the elders on social institutions of marriage. ...
The new market with the lack of close paternalistic relationships led to an overall increase of wealth for the Orma, despite there being many losers.
Approximate Word count = 1075
Approximate Pages = 4.3
(250 words per page double spaced)
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