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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:Regulating Capital in Accumulation: Negotiating the Imperial 'Frontier'
Author:Bracking, SarahISNI
Year:2003
Periodical:Review of African Political Economy
Volume:30
Issue:95
Period:March
Pages:11-32
Language:English
Geographic term:Africa
Subjects:political economy
capital formation
market economy
wealth
Economics and Trade
External links:https://www.tandfonline.com/doi/abs/10.1080/03056240308369
http://ejournals.ebsco.com/direct.asp?ArticleID=NN56YRUQ89RTRXYL6A05
Abstract:The author describes how the economic and political aspects of accumulation are linked in practice by means of State-sponsored institutions and by the liquidity that these provide in the accumulation process. She first models how the British State institutionally orders the economic relations it has within other societies and then provides a model of what this means on a global scale, presuming that other capital-exporting States have similar institutional arrangements. These 'frontier institutions' illustrate how markets are made and the inclusion of African States in 'globalization' is structured. Next, the author argues that the private/public dichotomy features strongly in work on the African State, in respect of its 'incompleteness', or its undermining by patrimonialism. However, potential government action for socioeconomic redistribution has historically required that 'private' boundaries of social ownership be changed. The theory of patrimonialism has difficulty in distinguishing between the legitimacy of redistribution and the illegitimacy of corruption, since it assumes that patrimonialism is an essentialist structural failure of the State. Instead, the 'problem' of redistribution would seem to revolve around the legitimacy of method - empowerment, indigenization, or kleptocracy - and the political negotiations within society which contextualize it. Bibliogr., notes, ref. [ASC Leiden abstract]
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