This is a revised and expanded edition of a popular textbook on the economics of farm households in developing countries. The second edition retains the same building blocks designed to explore household decision-making in a social context. Key topics are efficiency, risk, time allocation, gender, agrarian contracts, farm size and technological change. For these and other topics, household economic behaviour represents the outcome of social interactions within the household, and market interactions outside the household. A new chapter on the environment combines exposition of economic tools not previously covered in Peasant Economics with examination of household and community decision-making in relation to environmental resources.
Part I. Peasants, Economics, Political Economy
2. The neoclassical theory of farm production
3. Elements of peasant political economy
Part II. The Theory of the Optimising Peasant
4. The profit-maximising peasant
5. The risk-averse peasant
6. The drudgery-averse peasant
7. The farm household peasant
8. The sharecropping peasant
Part III. Inside the Peasant Household
9. Women in the peasant household
Part IV. Further Topics and Overview
10. Farm size and factor productivity
11. Technical change
13. Peasant economics in perspective
"[...] a significant contribution to material on the economic analysis of peasant household agricultural production."
- International Journal of Agricultural Economics
"[...] a succinct and accessible review of an area important to both development and agricultural economics."
- Journal Development Studies