Author : Juliette Levy
Release : 2012-01-01
Genre : History
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Book Rating : 147/5 ( reviews)

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The Making of a Market - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook The Making of a Market write by Juliette Levy. This book was released on 2012-01-01. The Making of a Market available in PDF, EPUB and Kindle. During the nineteenth century, Yucat&án moved effectively from its colonial past into modernity, transforming from a cattle-ranching and subsistence-farming economy to a booming export-oriented agricultural economy. Yucat&án and its economy grew in response to increasing demand from the United States for henequen, the local cordage fiber. This henequen boom has often been seen as another regional and historical example of overdependence on foreign markets and extortionary local elites. In The Making of a Market, Juliette Levy argues instead that local social and economic dynamics are the root of the region&’s development. She shows how credit markets contributed to the boom before banks (and bank crises) existed and how people borrowed before the creation of institutions designed specifically to lend. As the intermediaries in this lending process, notaries became unwitting catalysts of Yucat&án&’s capitalist transformation. By focusing attention on the notaries&’ role in structuring the mortgage market rather than on formal institutions such as banks, this study challenges the easy compartmentalization of local and global relationships and of economic and social relationships.