Study of rural area economic structures and mechanisms in West Africa, with particular reference to ownership and capitalist entrepreneurship among indigenous peoples in Ghana and Nigeria - covers economic implications and social implications of marketing activities connected with agriculture, animal production and fishery. Bibliography pp. 160 to 165, maps and statistical tables.

First published in 1986, this work challenges underdevelopment analyses of Africa’s past experiences and future prospects, and builds upon a very wide range of recent historical research to argue that the impact of Capitalism has resulted in economic progress and significant improvements in living standards. In marked contrast to the dependency approach, they propose that the important political and economic differences between the experiences of developing countries should be stressed and analysed. The argument is supported by a detailed look at the emergence since 1900 of capitalist social relations of production in nine different countries.

The land, labor, credit, and trading institutions of Marmara village, in Hausaland, northern Nigeria, are detailed in this study through fieldwork conducted in two national economic cycles - the petroleum-boom prosperity (in 1977-1979), and the macro-economic decline (in 1985, 1996 and 1998). The book unveils a new paradigm of economic change in the West African savannah, demonstrating how rural accumulation in a polygynous society actually limits the extent of inequality while at the same time promoting technical change. A uniquely African non-capitalist trajectory of accumulation subordinates the acquisition of capital to the expansion of polygynous families, clientage networks, and circles of trading friends. The whole trajectory is driven by an indigenous ethics of personal responsibility. This model disputes the validity of both Marxian theories of capitalist transformation in Africa and the New Institutional Economics.