Afterword: Commodity prices and third world poverty

Cheryl Payer

A chapter in Commodity Trade of the Third World, 1975, pp 169-188 from Palgrave Macmillan

Abstract: Abstract Primary commodities present a special problem in international political economy for two reasons. First, their production and export is generally ascribed to and identified with the former colonial areas of the world characterised by extreme poverty for the majority (not all) of their citizens. Second, the relationships of supply, demand and price for many of these commodities show several peculiarities which are not adequately accounted for either in classical ‘invisible hand’ theory or in the rationalised planning of large corporations. Several attempts have been made to link the two problems together in one theory, in an effort to show how the poverty of Third World peoples can be accounted for by either the violence of commodity price fluctuations or a long-range tendency for the terms of trade of commodity prices to decline in relation to the prices for manufactured goods.

Keywords: Commodity Price; Subsistence Agriculture; Price Fluctuation; Export Earning; Commodity Trade (search for similar items in EconPapers)
Date: 1975
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-02609-8_8

Ordering information: This item can be ordered from
http://www.palgrave.com/9781349026098

DOI: 10.1007/978-1-349-02609-8_8

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().