South Africa’s unique history has long positioned it as a crucial area for social anthropologists studying economic themes, and the book Money From Nothing — Indebtedness and Aspirations in South Africa by Deborah James stands out as a prime example of this insightful work. As highlighted by J.H. Cobbe in CHOICE, this book offers a highly accessible exploration of both formal and informal systems of credit and debt within South Africa. It delves into the intricate networks of obligation, reciprocity, and even rejection that shape financial interactions in the region. These complex dynamics are brought to life through engaging anecdotes and thorough analysis derived from James’s ethnographic fieldwork, providing a rich understanding of South Africa Money in everyday contexts.
Ann Crotty from The Times points out that Deborah James, an anthropologist at the London School of Economics, provides a much-needed nuanced perspective on South Africa’s debt industry. This perspective goes beyond the typical viewpoints of bank economists or trade unionists, offering a deeper and more human-centered analysis of South Africa money issues. The book effectively uses credit and debt as essential lenses through which to understand the intertwined aspects of social mobility and economic disenfranchisement prevalent in the New South Africa. Dinah Rajak, from the University of Sussex, emphasizes how James masterfully makes complex theories accessible while weaving in captivating ethnographic narratives, making it a truly compelling read for anyone seeking to understand the realities of South Africa money and its social impact.
Keith Hart from the London School of Economics further underscores the book’s importance by noting the backdrop of South Africa as the world’s most unequal society, coupled with a recent consumer credit boom. In this environment, where property rights are strong but debtor protections are weak, James’s ethnography becomes crucial. It reveals the lived experiences of those on the receiving end of this boom, providing invaluable insights into the human cost and consequences related to South Africa money and debt. Jane I. Guyer of Johns Hopkins University praises Money from Nothing as the most comprehensive and multi-faceted study available on new credit and debt initiatives within a poor population. The book is deemed an essential resource for anyone concerned with the pervasive and lived realities of the debt nexus in regions like South Africa.
Hemali Joshi, writing for Anthropology Southern Africa, concludes that Money from Nothing is an exceptional ethnography that effectively bridges the gap between micro and macro political-economy. It illuminates the everyday social life of money and finance within South Africa, particularly in the post-apartheid era. Joshi strongly recommends this scholarly work to those interested in post-apartheid South Africa, political-economy, and cultural-economy, recognizing its significant contribution to understanding the multifaceted nature of South Africa money. Similarly, Christi Kruger from H-Africa highlights the book’s important contribution to economic anthropology in post-apartheid South Africa. James’s ethnographic methods successfully unravel the complexities surrounding credit, debt, formal and informal economies, and the interplay between personal and political spheres, offering a comprehensive view of South Africa money and its societal implications.
