Forced commerce and agrarian growth |
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Affiliation: | 1. Department of Physics, Blackett Laboratory, Imperial College London, London SW7 2AZ, UK;2. Grantham Institute – Climate Change and the Environment, Imperial College London, London SW2 7AZ, UK;3. Department of Chemical Engineering, Imperial College London, London, SW7 2AZ, UK;4. Oorja: Empowering Rural Communities, 201 Diamond Arch, St John Baptist Road, Bandra(W), Mumbai 400050, India;5. Université Pierre et Marie Curie, Paris 75005, France;6. Ecole Centrale Paris, Grande Voie des Vignes, 922595 Châtenay-Malabry, France |
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Abstract: | The paper explains why contractually interlocked agrarian markets differ from price—and quantity—adjustments under pressures of excess demand/supply in neoclassical general equilibrium analysis. Such contractual interlocking, arising (say) from the indebtedness of the peasants, gives rise to a contrived system of “forced commerce”. This commercial mode of exploitation not only exhibits unequal relations of economic power, but more important, it is also a mechanism for maintaining such unequal power structure, often at the cost of retarding agrarian growth. The paper thus emphasizes the need to understand the very notion of “market exchange” and “commerce” in backward agriculture from an unconventional viewpoint. |
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