Ponzi Logics in Postsocialist Albania
This chapter summarizes the ethnographic study of pyramid schemes in Albania. It reviews the collapse of the firms and how the economic reforms in Albania have maintained a distinct neoliberal flavor. This postsocialist neoliberal economic order has focused on liberalization and privatization reforms. The chapter looks at Albania's economy that is now rated as an upper-middle-income economy with a few large industries and foreign investments but with the majority of the working force employed in small-and medium-sized enterprises in services, agriculture, and tourism. It analyzes how pyramid schemes, speculative financing in construction, betting cafés, and Ponzi logics of accumulation and investment have become enduring economic forms in postsocialist Albania.
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