Lecture 4. Peasant household economics
In the final lecture, this peasant mode of production is explored by reference to two versions of Alexander Chayanov’s family farm model. The empirical relevance of the models to the Tokugawa agrarian history is examined in relation to the growth of labour-intensive family farming, product specialisation, and the markets for land and labour. further discussion suggest that the roots of the Great Divergence can be traced back to the medieval period.
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