Many other countries have also risen from pov- erty to wealth despite the lack of agricultural surplus
through other channels.
Section IV addresses the issue of structural transformation in China and its agricultural surplus
The Physiocrats knew that the rate of economic development depended on the size of the agricultural surplus
- without some surplus, there was no hope for the creation of a manufacturing sector.
Where state intervention had been intended to create an agricultural surplus
to provide for its modernization programme, peasants responded to price policies by diversification into non-agricultural production.
As agricultural surplus
is still there, they will engage in looting and other disorderly activities for gaining access to food.
They want to convert countries like India into markets for their agricultural surplus
Thus, the source of the problem is that agricultural surplus
is not realized fully.
Unlike the Spanish missions of central and southern California, the cold climate of this coastal northern region never provided an agricultural surplus
. Fort Ross was eventually sold to Californian John Sutter in 1841.
Although these critics did not speak with one voice, they raised concerns about Hoover's unwillingness to reorganize society along fundamentally new lines (Stuart Chase); technological displacement (Alvin Hansen and Sumner Slichter); the plight of farmers and the problem of agricultural surplus
in the 1920s (Rexford Tugwell); and Hoover's use of fiscal and monetary policy to control the business cycle (William Trufant Foster and Waddill Catchings).
A considerable agricultural surplus
can be generated through the application of new technologies and techniques; improved seeds, planting and harvesting methods; efficient irrigation and fertiliser use; better storage facilities, access to markets, packaging and branding.
Summary: Agricultural surplus
is not only the foundation of great wealth and power in the modern world, it was the single most important factor in the rise of human civilisation.