POLI 3424 Lecture Notes - Lecture 10: Contingent Work, Takers, Adverse Selection
11 Nov 2020
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Small-scale agriculture, not large-scale that has support. ***we don"t really see these risks in the united states. If we do, we don"t worry about them as much. Effects tend to cause greater harm in less developed countries because there is. 50% of urban poor have non-ag business. Their livelihood relies heavily on how agriculture is doing. Floods, droughts, how much they can sell it for, etc. Casual employment - easily lose their jobs. Don"t know if you are going to have a job tomorrow. Working labor tends to be price takers - whatever the employer is offering, you have to accept that wage. Borrowing for the poor can be very costly and difficult. Not that many banks that want to lend small amounts of money. If they do, they are going to charge a higher interest rate. This doesn"t mean you are going to be more efficient. Diminishing returns (better to get a good night"s sleep)
