Agriculture in China's Modern Economic Development by Nicholas R. Lardy

By Nicholas R. Lardy

Explores the connection among the chinese language peasantry, who're the elemental base of help for the progressive chinese language Communist get together, and the state-led economy proven by means of the social gathering after 1949.

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Additional info for Agriculture in China's Modern Economic Development

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This will be done primarily by focusing on the role of prices and markets within agriculture. Prior to the formation of higher-stage cooperatives in 1956, control of agriculture by the state was by necessity indirect. Following land reform in the early 1950s, over 100 million farm families cultivated their own land, and the state had no direct means of controlling their production decisions. To meet the objectives of increasing farm output and raising the marketed share, the state relied primarily on price incentives.

In the future, additional tens of millions of peasants will go to the cities and enter factories" (Mao Tse-tung 1943, 250). Mao recognized the critical role of agriculture's financial contributions to industrialization, yet his policy was not primarily extractive but developmental. He warned as early as 1942 against the mistake of what he called "draining the pond to catch the fish" (Mao Tse-tung 1942, 114), a theme to which he would return almost two decades later in his critique of Soviet agricultural development policy.

Continuing the assumption that Cov^x, q2) > 0, the advantage of price controls is again somewhat diluted when two goods are substitutes in consumption. When B i 2 < 0 and Cov((/i, q2) > 0, increases in q2 that would occur as a result of better weather, for example, will indirectly reduce the marginal value of units of the first product just when its output is also increasing. But as in the case of joint products, although an initial price advantage may be reduced when B 12 < 0 and Cov(qi, q2) > 0, substitution in consumption normally will not cause the quantity mode to dominate the price mode of control.

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