Open AccessEthiopia and the Great Transformation
Author(s) -
Richard Pankhurst
Publication year - 2012
Publication title -
aethiopica
Language(s) - English
Resource type - Journals
eISSN - 2194-4024
pISSN - 1430-1938
DOI - 10.15460/aethiopica.7.1.282
Subject(s) - argument (complex analysis) , asceticism , hospitality , capitalism , state (computer science) , economics , economy , market economy , political science , economic system , law , history , politics , archaeology , biochemistry , chemistry , tourism , algorithm , computer science
The article considers Karl Polanyi’s thesis that 19th century Western capitalism was unique in basing itself on the principle of gain, as expressed by the self-regulating market system. Polanyi’s argument is examined in the light of Ethiopian historical experience, with special reference to land and labour (including slavery), agricultural production, control over trade and prices, and traditional institutions which curtail or serve as an alternative to market factors. These include church holidays, compulsory hospitality, state banquets, alms giving, and, more generally, asceticism and resignation to the Will of God.