POLS 2950 Lecture Notes - Lecture 13: Debt Bondage, Primitive Accumulation Of Capital, Modernization Theory
13 Jan 2017
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Document Summary
Several had high degree of specialization - key crops - product specialization, specialized economies - one product driving exports to a signi cant degree, varying by country. Export-oriented economies - vibrant sector of economy was agriculture - but catered to external markets - producing to export. Class consequences - export oriented society - land owning elite has a lot of economic and political power. Labour practices that are not free - not slave societies (slavery was abolished in late 1800s) But not fully free labour - lots of coercion and semi-free labour practices - debt peonage - people who are nominally free, not slaves, but at the same time, a relationship of servitude with landowners. Social and political consequences - landowners have power over their labour force. Stop-and-go trajectory - boom and bust cycles - dependent on international actors and demands. Once interest for the export fades, economy goes into recession.
