Theorizing from the Global South is often understood to provide key insights into alternative perspectives and cosmologies excluded and effaced from Western modernity. Theory from ‘below’ is usually framed as providing ‘local’ variations and difference from hegemonic, neoliberal economics and societies of the Global North. While this article recognizes the importance of this approach, it is also cru-cial to move beyond these conceptual and spatial separations and hierarchies. This article proposes that insights and theories from Global South social economies not only shed light on those excluded from the dominant social economies of the Global North, but also on the taken-for-granted workings of formal economics itself. In addition to contemporary critical scholars of racial capitalism and feminist substan-tivism, one only has to look towards Marshall Sahlins’s ground-breaking Stone Age Economics to recognize the possibility that the “housewife’s perspective” and the un-derstanding of social economies forged in so-called “primitive economies” are nec-essary to unpack and better analyze Global North economies. The insight that all economic transactions are always already social relations is precisely what is prob-lematically erased in the local cultures of the Global North. Taking inspiration from Sahlins’s remarkable analysis of how “anthropological economies” engage supply and demand, this article shows its applicability in examining US housing markets.
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© 2021, Casa Editrice Leo S. Olschki. All rights reserved.
- Formal Economic Theory
- Global North
- Housing Markets
- Marginalized Perspectives
- Supply and Demand