Twenty-five years of Living Under Contract: Contract farming and agrarian change in the developing world

The expansion of contract farming schemes through regions of the developing world in the era of the globalization of agriculture raises questions that are central to the study of agrarian political economy. Contract farming has extended the footprint of commodity production and integrated land and labour not otherwise captured in forms of direct production and marketing. 25 years after the publication of Living Under Contract: Contract Farming and Agrarian Transformation in Sub-Saharan Africa, a foundational collection edited by Peter Little and Michael Watts, it is necessary to take stock of the most prominent developments in the practice of contract farming and in the political economy literature studying it. The ultimate contribution of Living Under Contract was framing contract farming as expressing the unevenness of power relations in agriculture and grounding it in specific political, historical and social contexts that were not examined in the mainstream accounts. This introduction to the special issue revisits the questions that have remained relevant or re-emerged in the political economy literature on contract farming; it raises new questions that reflect contemporary developments and it explains how the papers in this collection contribute to the expansion of the theoretical and empirical horizons of the research on contemporary contract farming in low and middle-income countries.     

Contract farming and everyday acts of resistance: Oil palm contract farmers in the Philippines

Contract violations are critical issues determining the success and sustainability of contract farming (CF). This paper challenges the common portrayal of the “powerful” company versus the “powerless” landowners/smallholders by using the literature on labour agency in global value chains to understand minor contract violations of contract farmers such, as side-selling, refusal to harvest, and burning/felling of oil palm trees. This paper conceptualizes these violations as acts of minor agency or everyday acts of resistance. The analysis highlights how CF has created chains of dependency, in which smallholders are integrated into the modern market economy through new relations of debt and power. In response, contract farmers attempt to influence and shape the CF relation by using these different acts of minor agency. This paper finds that acts of minor agency, in the aggregate, can have important effects on contract relations, governance, and organizational structure of the chain and has the potential to lead to broader changes in the underlying social relations of contract. It highlights how individual acts of minor agency may contribute to the development of a consciousness of collective opposition to the contract relation.     

Ramsey rule with forward/backward utility for long-term yield curves modeling

Decisions in Economics and Finance - This paper draws a parallel between the economic and financial points of view in the modeling of long-term yield curves and provides new results on asymptotic...