Reading Indigenous African Economies Through Production and Exchange: Pre-colonial Yorubaland and Articles of Trade*

Abstract

Many scholars have reflected on Ricardo’s comparative advantage theory, but little has been said about Yoruba economic thoughts, especially in the exchange and distribution of articles of trade. Prior to the arrival of the Europeans and their activities in the economy of Yorubaland in the pre-colonial period, communities had traded in local, distant markets and across frontiers with neighbours in exchange for products different to the ones they produced. This happened because different towns had specialised in the production of articles which were environmentally suitable to it. Soil fertility, dictated by environmental factors, was a determining factor in what was produced, as agriculture was essentially the predominant economic activity. Textile industries were also established which equally stimulated long-distance trade as specialised clothes were made for export to neighbouring regions. A number of Yoruba towns have been selected for this analysis. The work presents Yoruba economic thoughts and initiatives, and the activities of the indigenous people in the pre-colonial period in Yorubaland and critically assesses the articles which different towns produced for export to other cities and kingdoms in Yorubaland and beyond. Primary source in form of interviews were conducted, proverbs, and secondary sources such as books and journals were also consulted for this work. The economic thought of the people based on specialising in advantaged goods or what they easily produced and achieved is worth historical investigation as a means of celebrating their economic thoughts in a free market.

Citation

Okunade, S.A. (2022), "Reading Indigenous African Economies Through Production and Exchange: Pre-colonial Yorubaland and Articles of Trade*", Fiorito, L., Scheall, S. and Suprinyak, C.E. (Ed.) Research in the History of Economic Thought and Methodology: Including a Symposium on David Gordon: American Radical Economist (Research in the History of Economic Thought and Methodology, Vol. 40A), Emerald Publishing Limited, Leeds, pp. 157-174. https://doi.org/10.1108/S0743-41542022000040A011