Deborah James’s book, Money From Nothing — Indebtedness and Aspirations in South Africa, offers a crucial anthropological lens through which to examine South Africa’s complex economic landscape. Moving beyond conventional financial analyses, James delves into the lived experiences of individuals navigating credit and debt in the post-apartheid era, revealing how these financial instruments shape social mobility and disenfranchisement. This insightful work has garnered significant praise for its nuanced perspective and rigorous ethnographic approach, making it essential reading for anyone seeking to understand the multifaceted nature of debt and aspiration, especially where the concept of “Nothing Money” seems to take hold.
Critics from various fields have lauded Money From Nothing. J.H. Cobbe of CHOICE highlights the book’s readability and its rich ethnographic fieldwork, noting its exploration of both formal and informal credit systems alongside social networks of obligation and reciprocity. Ann Crotty in The Times emphasizes James’s anthropological background, positioning her work as a valuable counterpoint to more traditional economic or trade union perspectives on South Africa’s debt industry. The book’s strength lies in its ability to make complex theoretical concepts accessible while remaining deeply engaging through compelling ethnographic narratives. Dinah Rajak, from the University of Sussex, aptly describes it as “utterly captivating,” praising its examination of the intertwined dynamics of social mobility and economic inequality in the “New South Africa.”
The significance of Money From Nothing extends beyond academic circles. Keith Hart from the London School of Economics points out the urgency of James’s work in the context of South Africa’s consumer credit boom and the vulnerability of debtors despite strengthened property rights. Jane I. Guyer of Johns Hopkins University further underscores the book’s comprehensive nature, deeming it a “key source” for understanding the lived experience of debt. Reviewers in academic journals like Anthropology Southern Africa and H-Africa also commend the book’s contribution to economic anthropology, particularly its focus on the everyday experiences of the black middle class and its insightful analysis of the relationship between micro and macro political-economy. Hemali Joshi in Anthropology Southern Africa strongly recommends it for those studying post-apartheid South Africa and cultural-economy. Christi Kruger from H-Africa emphasizes the book’s success in complicating traditional notions of credit and debt, and formal versus informal economies.
In conclusion, Money From Nothing stands as a highly recommended and important study. It provides a rich, ethnographically grounded understanding of how “nothing money”—or the creation of money through credit—impacts lives and aspirations in South Africa. For those interested in economic anthropology, African studies, or the global dynamics of debt and credit, Deborah James’s book offers invaluable insights and a compelling narrative that is both academically rigorous and deeply human.
