According to accepted wisdom, rational practices and ritual action are opposed. Rituals drain wealth from capital investment and draw on a mode of thought different from practical ideas. The studies in this volume contest this view. Comparative, historical, and contemporary, the six ethnographies extend from Macedonia to Kyrgyzstan. Each one illuminates the economic and ritual changes in an area as it emerged from socialism and (re-)entered market society. Cutting against the idea that economy only means markets and that market action exhausts the meaning of economy, the studies show that much of what is critical for a people’s economic life takes place outside markets and hinges on ritual, understood as the negation of the everyday world of economising.

Increasingly, economists have acknowledged that a major limitation to economic theory has been its failure to incorporate human values and beliefs as motivational factors. This book explores how values and beliefs structure the dual processes of provisioning and consuming.

This book focuses on Shenzhen, one of China’s most globalized metropolises, a leading centre of high-tech industries and, as a melting pot of migrants from all over China, a place of vibrant cultural creativity. While in the early stages of Shenzhen’s development this vibrant cultural creativity was associated with the resilience of traditional social structures in Shenzhen’s migrant ‘urban villages’, today these structures undergird dynamic entrepreneurship and urban self-organization throughout Shenzhen, and have gradually merged with the formal structures of urban governance and politics. This book examines these developments, showing how important traditional social structures and traditional Chinese culture have been for China’s economic modernization. The book goes on to draw out the implications of this for the future of Chinese culture and Chinese economic engagement in a globalized world.

Increasingly, economists have acknowledged that a major limitation to economic theory has been its failure to incorporate human values and beliefs as motivational factors. This book explores how values and beliefs structure the dual processes of provisioning and consuming.

Comparative and critical, Anthropology and Economy offers a uniquely cross-cultural view of economy. Using examples from market and non-market situations, the book shows how economies are built on five increasingly abstract spheres, from the house to community, commerce, finance, and meta-finance. Across these spheres, economy incorporates a tension between self-interested rationality and the mutuality of social relationships. Even when rational processes predominate, as in markets, economies rely on sociability and ritual to operate, whether as cronyism, pleas to divinities or the magical persuasions of advertising. Drawing on data and concepts from anthropology and economics, the book addresses wealth inequality, resource depletion, and environmental devastation especially in capitalism, providing an understanding of their persistence and ideas for controlling them. Given the recent financial crash, Gudeman offers a different understanding of the crisis and suggestions for achieving greater economic stability.

"Exploring the intersection of spirituality and materiality, Mesoamerican Ritual Economy will be of interest to all scholars studying how worldview and belief motivate economic behavior."--Jacket.

China's spectacular rise challenges established economic moulds, both at the national level, with the concept of "state capitalism", and at the firm level, with the notion of indigenous "Chinese management practices". However, both Chinese and Western observers emphasise the transitional nature of the reforms, thereby leaving open the question as to whether China's reform process is really a fast catch-up process, with ultimate convergence to global standards, or something different. This book, by a leading economist and sinologist, argues that "culture" is an exceptionally useful tool to help understand fully the current picture of the Chinese economy. Drawing on a range of disciplines including social psychology, cognitive sciences, institutional economics and Chinese studies, the book examines long-run path dependencies and cultural legacies, and shows how these contribute crucially to the current cultural construction of economic systems, business organisations and patterns of embedding the economy into society and politics.