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Farmers and Capitalism


  • Carney, Richard


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.

Suggested Citation

  • Carney, Richard, 2007. "Farmers and Capitalism," MPRA Paper 5148, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:5148

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    References listed on IDEAS

    1. Hall, Peter A. & Soskice, David (ed.), 2001. "Varieties of Capitalism: The Institutional Foundations of Comparative Advantage," OUP Catalogue, Oxford University Press, number 9780199247752.
    2. Marco Becht & J. Bradford DeLong, 2005. "Why Has There Been So Little Block Holding in America?," NBER Chapters,in: A History of Corporate Governance around the World: Family Business Groups to Professional Managers, pages 613-666 National Bureau of Economic Research, Inc.
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    More about this item


    political economy; capitalism; financial institutions; economic development;

    JEL classification:

    • P0 - Economic Systems - - General
    • N20 - Economic History - - Financial Markets and Institutions - - - General, International, or Comparative

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