Beyond the Miracle of the Market

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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.