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Agricultural Reform
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Agricultural Reform
Commune system replaced HRS
- Sell surplus in the free market after state quota was met
- Led to an incentive effect where there surpluses in income and food
- This means more development in human and physical capital (through more food supply)
- More investment through VTEs and more consumption as disposable income rises
- Increases to AS and AD and subsequent increases in growth and GNI/capita
- Increases to standards of living and development as a result
- Increases to AS and AD and subsequent increases in growth and GNI/capita
- More investment through VTEs and more consumption as disposable income rises
- This means more development in human and physical capital (through more food supply)
- Led to an incentive effect where there surpluses in income and food
- Sell surplus in the free market after state quota was met
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- How it affects development and growth
- Created by
- Ayman Shaukat
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