Results by title

A single day in a semilegal market in Lima, Peru, reveals a social world that defies conventional economic logic.

In the heart of Lima’s historic center, the markets of El Hueco (“The Hole”) and sprawling Mesa Redonda pulse with life, with thousands of vendors selling everything from knockoff electronics to religious icons. In A Day in “The Hole,” anthropologist Daniella Gandolfo immerses readers in a single, tumultuous day—the thirty-fourth anniversary of a vendors’ cooperative—while examining the dynamics that sustain these marketplaces.
 
Through a blend of cinematic storytelling and incisive anthropological insight, Gandolfo reveals a world with its own unique codes. She inspects how vendors embrace expenditure over profit and instability over order, and moving through the sights and sounds of El Hueco and Mesa Redonda, she finds a dissident economy that is as much about survival as it is about spectacle. Gandolfo redefines how we think about urban economies and the unexpected ways these defiant communities thrive in this textured portrait of Lima’s markets and the people who animate them.

In 1812, New Hampshire shopkeeper Timothy M. Joy abandoned his young family, fleeing the creditors who threatened to imprison him. Within days, he found himself in a Massachusetts jailhouse, charged with defamation of a prominent politician. During the months of his incarceration, Joy kept a remarkable journal that recounts his personal, anguished path toward spiritual redemption. Martin J. Hershock situates Joy's account in the context of the pugnacious politics of the early republic, giving context to a common citizen's perspective on partisanship and the fate of an unfortunate shopkeeper swept along in the transition to market capitalism.

In addition to this close-up view of an ordinary person's experience of a transformative period, Hershock reflects on his own work as a historian. In the final chapter, he discusses the value of diaries as historical sources, the choices he made in telling Joy's story, alternative interpretations of the diary, and other contexts in which he might have placed Joy's experiences. The appendix reproduces Joy's original journal so that readers can develop their own skills using a primary source.

Fluctuations of commodity prices, most notably of oil, capture considerable attention and have been tied to important economic effects, such as inflation and low rates of economic growth. Commodity Prices and Markets advances our understanding of the consequences of these fluctuations, providing both general analysis and a particular focus on the countries of the Pacific Rim. The volume addresses three distinct subjects: the difficulties in forecasting commodity prices, the effects of exogenous commodity price shocks on the domestic economy, and the relationship between price shocks and monetary policy. The ability to forecast commodity prices is difficult but of great importance to businesses and governments, and this volume will be invaluable to professionals and policy makers interested in the field.

An approachable ethnography of how grasshoppers are harvested, sold, and consumed in Oaxaca.

Chapulines (toasted grasshoppers) are not a delicacy in Oaxaca. They are just food—good food—and a protein-rich seasonal snack that is the product of a long-standing industry based overwhelmingly on the labor of women. Jeffrey Cohen has interviewed dozens of these chapulineras, who harvest insects from corn and alfalfa fields, prepare them, and sell them in urban and rural marketplaces. An accessible ethnography, Eating Grasshoppers tells their story alongside the broader history of chapulines.

For tourists, chapulines are an experience—a gateway to the “real” Oaxaca. For locals, they are ordinary fare, but also a reminder of Indigenous stability and rural survival. In a sense, eating chapulines is a declaration of independence from a government that has condemned eating insects as backward. Yet, while chapulines are a generations-old favorite, eating them is not an act of preservation. Cohen shows that the business of this traditional food is thoroughly modern and ever evolving, with entrepreneurial chapulineras responding nimbly to complex and dynamic markets. From alfalfa fields to online markets, Eating Grasshoppers takes readers inside one of the world’s most fascinating food cultures.

As Preda discovers through extensive research, the public was once much more skeptical. For investing to become accepted, a deep-seated prejudice against speculation had to be overcome, and Preda reveals that over the course of the eighteenth and nineteenth centuries groups associated with stock exchanges in New York, London, and Paris managed to redefine finance as a scientific pursuit grounded in observational technology. But Preda also notes that as the financial data in which they trafficked became ever more difficult to understand, charismatic speculators emerged whose manipulations of the market undermined the benefits of widespread investment. And so, Framing Finance ends with an eye on the future, proposing a system of public financial education to counter the irrational elements that still animate the appeal of finance.

Markets in Oaxaca is a study of the regional peasant marketing system in the Valley of Oaxaca, Mexico. It relates the marketing system to other aspects of the regional economy, to neighboring regions, and to the Mexican national economy. Combining ethnographic, theoretical, and regional analyses, it suggests new directions in the fields of peasant and development studies.

Contributors to the volume describe the operation and nature of several marketplaces in the region, analyze village-based artisan production and various specialized economic roles (particularly the role of traders), and describe the operation of several total regional marketing systems. The editors then consider their findings against the background of political, economic, and social structures from the pre-Conquest period to the present. In their conclusion, the editors find the regional peasant economy to be responsive both to the influence of the urban metropolitan sector, on the one hand, and to its own indigenous structural integrity and internal dynamism, on the other.

In addition to the editors, the contributors to Markets in Oaxaca are Ralph L. Beals, Richard L. Berg Jr., Beverly Chiñas, Herbert M. Eder, Charlotte Stolmaker, Carole Turkenik, John C. Warner, Ronald Waterbury, and Cecil R. Welte. Their essays combine analyses of the elements of the system within a comprehensive theoretical framework. Together, they present a complete and integrated view of a peasant economy.

Using a sample of European newspapers and their TV listings as a stepping stone, Media, Markets and Public Spheres presents an overview of changes in European public spheres over the last fifty years. With in-depth analyses of structural changes in press and broadcasting, changing relations between media, and changes in media policies, this book explores how and why the media decisively influence most aspects of society. Media, Markets and Public Spheres will be useful to students in media and communication studies and European studies, as well as for those studying sociology and political science.

Part travelogue, part cookbook, Mercados takes us on a tour of Mexico’s most colorful destinations—its markets—led by an award-winning, preeminent guide whose passion for Mexican food attracted followers from around the globe. Just as David Sterling’s Yucatán earned him praise for his “meticulously researched knowledge” (Saveur) and for producing “a labor of love that well documents place, people and, yes, food” (Booklist), Mercados now invites readers to learn about local ingredients, meet vendors and cooks, and taste dishes that reflect Mexico’s distinctive regional cuisine.

Serving up more than one hundred recipes, Mercados presents unique versions of Oaxaca’s legendary moles and Michoacan’s carnitas, as well as little-known specialties such as the charcuterie of Chiapas, the wild anise of Pátzcuaro, and the seafood soups of Veracruz. Sumptuous color photographs transport us to the enormous forty-acre, 10,000-merchant Central de Abastos in Oaxaca as well as tiny tianguises in Tabasco. Blending immersive research and passionate appreciation, David Sterling’s final opus is at once a must-have cookbook and a literary feast for the gastronome.

A comprehensive survey of the evolution of market design over the past three decades.

In the mid-1990s, the first Federal Communications Commission spectrum auction and the redesign of the National Residency Matching Program collectively helped to jumpstart the field of market design. Since then, extensive research has improved auction design and broken new conceptual ground in addressing multi-agent matching problems. This volume summarizes key discoveries and advances in market design over the past three decades and explores contemporary challenges—from climate policy and electricity markets to AI-mediated exchanges and hospital resource allocation.

Contributors examine how to design efficient, incentive-compatible mechanisms that are robust to shifting conditions and increasing complexity. They consider a wide variety of applications that could benefit from the market design viewpoint, such as environmental markets, school choice, and organ exchange. Together, the chapters illustrate the important interactions between economic theory, computational tools, and institutional insight.

In Peruvian Street Lives, Seligmann argues that the sometimes invisible and informal economic, social, and political networks market women establish may appear disorderly and chaotic, but in fact often keep dysfunctional economies and corrupt bureaucracies from utterly destroying the ability of citizens to survive from day to day. Seligmann asks why the constructive efforts of market women to make a living provoke such negative social perceptions from some members of Peruvian society, who see them as symbols and actual catalysts of social disorder. At the same time, Seligmann shows how market women eke out a living, combat discrimination, and transgress racial and gender ideologies within the rich and expressive cultural traditions they have developed.

The “free market” has been a hot topic of debate for decades. Proponents tout it as a cure-all for just about everything that ails modern society, while opponents blame it for the very same ills. But the heated rhetoric obscures one very important, indeed fundamental, fact—markets don’t just run themselves; we create them.

Starting from this surprisingly simple, yet often ignored or misunderstood fact, Alex Marshall takes us on a fascinating tour of the fundamentals that shape markets and, through them, our daily economic lives. He debunks the myth of the “free market,” showing how markets could not exist without governments to create the structures through which we assert ownership of property, real and intellectual, and conduct business of all kinds. Marshall also takes a wide-ranging look at many other structures that make markets possible, including physical infrastructure ranging from roads and railroads to water systems and power lines; mental and cultural structures such as common languages and bodies of knowledge; and the international structures that allow goods, services, cash, bytes, and bits to flow freely around the globe.

Sure to stimulate a lively public conversation about the design of markets, this broadly accessible overview of how a market economy is constructed will help us create markets that are fairer, more prosperous, more creative, and more beautiful.