Abstract
A nation-state’s political structure determines the levels of trust and security individuals have in the economic system as a whole. Cities are hotbeds of commercial activity and convince many individuals to migrate to urban areas in search of obtaining a slice of that economic growth. How these individuals conduct commercial transactions reflect levels of trust and security in a nation-state’s political system. Through analyzing formal and informal commercial transactions at the point of payment, this paper will explore how small merchants and consumers replace gaps in formal regulations and distrust in governance with their own systems of trust and security. Research in Buenos Aires, Hanoi, and Cape Town shows how unique features of each nation-state’s political economy have a significant impact on commercial behavior at point of payment but raise concerns about unequal wealth distribution in cities integrated with the global market economy.
Highlights
A nation-state’s political structure determines the levels of trust and security individuals have in the economic system as a whole. hotbeds of commercial activities and convince many people to migrate to urban areas in search of obtaining a slice of that economic growth
Unquantifiable notions of security and trust have a critical impact on how people exchange goods and a significant impact on the political economy of a nation-state as a whole
South Africa’s young, dysfunctional democracy has largely avoided economic instability but has been unable to provide essential services needed for stability on the microeconomic level; Cape Town’s inability to distribute security forces evenly across the population has had a disproportionate impact on poor, informal business as police protect capital rather than people
Summary
A nation-state’s political structure determines the levels of trust and security individuals have in the economic system as a whole. hotbeds of commercial activities and convince many people to migrate to urban areas in search of obtaining a slice of that economic growth. Hotbeds of commercial activities and convince many people to migrate to urban areas in search of obtaining a slice of that economic growth How these individuals conduct business transactions reflect their levels of trust and security in a nation-state’s political system. Where the government is either unwilling or unable to in- research question and methodology still safety and confidence in micro-level commercial activity, individuals and communities create alternate payment systems to compensate. The purpose of this project is to analyze the similarities and differences of small-scale commercial transactions within and between each city. The mechanism of this relationship between macro and micro-level variables at the point of payment and the micro variables operates differently in each city studied. nation-state’s macro-level political economy manipulate
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