The Role of Competitive Market Institutions

Continuous reorganization of markcll;:s implied by tlH~ process of economic grow til, wherein spcrialization, enlargement of sealc, and applications of technology keep marching onward. Under a regime of privatI.: propcrty, there are continual adaptations of differcllt means for mohili1.ing capital that arc more or less appropriate to different situations-means that mitigate the hazards of loss to the individual or finn. In agriculture, a host of enterprist--sharing arrangements have developed. These should be separated into oncs that result in nwaningful market prices and ones tllat merely dh'idf-up the residual rewards. A number of market tendencies and problems arc noted.


Issue Date:
1974-04
Publication Type:
Journal Article
PURL Identifier:
http://purl.umn.edu/147167
Published in:
Agricultural Economics Research, Volume 26, Number 2
Page range:
41-48
Total Pages:
8




 Record created 2017-04-01, last modified 2017-08-27

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