May.26 - It costs nothing to obtain the land. How much land...

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May.26 th LAND REFORM NEED TO BE : Quick or landlords recommence No composition East Asia After WWII 1, 3 countries that are successful in land reform: Japan, South Korea, and Taiwan 2, these countries were controlled by the US Military GOVT WHEN THE LAND REFORM TOOK PLACE. They were all military dictators. First stage: Military controlled Second stage: They were all administered by the Japanese. All the Japanese left Taiwan except one person, the head of the Rice cultivation Research. He helped Taiwan in Land reform. LAND Value Tax (rather than land reform) Sharecropping : Sharecropping is a transitional phase before becoming a capitalist nation. Share-output: Share-tenant Buy Rent Sharecropping: under supply labor. What are the costs of shared tenancy? Nothing upfront, only pay the landlord after the labor is supplied.
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Unformatted text preview: It costs nothing to obtain the land. How much land to use: as much as possible. Never lose by taking more land. (Infinite demand) 1, Competitionall units are equal. 2, Costless contracts---every form of contracting is as difficult to negotiate and implement 3, Certainty----by 1970, you cannot model sharecropping unless you give up one of the above condition Agricultural Ladder: Absentee landlord: Cash rental :with no risk Fired wage : 100% risk Competition retries monopoly. Agency- Principal: agent model. Agent:. E.G. Lawyer and doctor. Worker is the agent the landlord is the principal....
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This note was uploaded on 09/21/2011 for the course ECON 499 taught by Professor Tba during the Spring '11 term at UChicago.

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May.26 - It costs nothing to obtain the land. How much land...

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