Beyond the Miracle of the Market

More about the book

The book examines Kenya's unique economic trajectory amidst the broader context of capitalism's rise and socialism's fall in Eastern Europe. It critiques the shift in development economics towards neo-classical models, attributing Kenya's initial growth to its economic institutions. However, the author argues that the transition from the Kenyatta to the Moi regime led to a decline, as these institutions were misused to redistribute wealth instead of fostering economic creation. The analysis highlights the critical role of governance in shaping economic outcomes.