ECON414 Chapter Notes -Cash Crop (Album), Risk Aversion, Korean War

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In general, the more people employed in the rural agricultural/cottage industries, the lower the. Gdp/capita of the country as agriculture contributes only a small portion of gdp. The marginal value of workers in this sector is extremely low. And yet, agri-development is almost never a central developmental focus. Agriculture is shrinking, both in number of people employed as well as output. Pressure to move towards social justice (land reform, address malnutrition) Food production is dropping faster than population growth rate, leaving less food for respectively more people. Urban bias (michael lipton, 1977): policy makers live in urban areas, therefore they focus on developing urban areas: countries with low urban bias see lower emigration, increased cultivator investment, technological adaptation, and higher growth in the economy. Landlord bias: stall land reform, drive down labour wages, pressure gov"t programs to benefit their own lands, control most of the income.

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