Farmers and Capitalism

Carney, Richard (2007): Farmers and Capitalism.

Abstract

Most analyses of modern capitalism focus on bargains struck between workers, managers, and owners (and the different types of firms they inhabit). But considering the substantial influence of institutional inertia on modern outcomes, it is necessary to examine the origins, and to consider which actors were most important in the early construction of capitalist systems. In this regard, farmers have played a critical role. I examine four cases - early 19th Century United States, early 20th Century United States, post-WWII France, and post-WWII Japan - to assess farmers’ influence on the origins of contemporary institutions, and find that they have played an important, though frequently overlooked, role.

• Item Type: MPRA Paper
• Language: English
• Keywords: political economy; capitalism; financial institutions; economic development
• Subjects: P - Economic Systems > P0 - General; N - Economic History > N2 - Financial Markets and Institutions > N20 - General, International, or Comparative

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