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Araghi Reading.docx

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University of Toronto St. George
Political Science

The invisible hand the visible foot - Araghi The invisible hand means that if left alone markets will balance themselves. The visible foot derives from politically constructed global agrarian relations. Araghi takes a world historical viewpoint. He looks at three central themes that the visible foot causes. Depeasantization, deruralization and hyper urbanization. He divides history into three main stages; (1) colonial liberal globalism from the discovery of the new world until the th early 20 century (2) long national developmentalism 1917-1973 (reformist phase) (3) post colonial neoliberal globalism. The first and third stages are closely associated with economy liberalism, anti-welfarism, free market fetishism and designs for constructing a truly global division of labour. The 2 stage was the retreat of the 1 due to socialism and anti-colonial nationalism. The current phase, the 3 is an extension of the 1 In phase 1 and 3 there is a dispossession of the peasantry in 2 ways. This means power shifts in the hands of the few, mostly by exploiting the peasantry. The first occurs though different areas of national protectionism of the home market. (as touched by Clara in the Bate’s article we observed the government exploiting peasants for purely developmentalist means through price controls and export restrictions) The second occurs by displacement in eras of world market hegemony through the establishment of global food regimes of capital. The global food regime is the value based global division of labour, we saw it’s st establishment during the 1 phase, colonial liberal globalism, where global pools of peasants and wage labours emerge at the expense of domestic sources, creating the dispossession of the peasantry from abroad through foreign power relations The 2 phase, termed “long national developmentalism,” was a reformist phase, with the ackownledgement of the postcolonial peasantry as a political force and the accommodation of their demands and needs – economic orientation is domestic, either by: a) socialist means, b) market-led national development – two key themes dominated the latter: i) import-subsituting indutrilization policies, meant the appease the urban populations, ii) US-sponsored land reform
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