Problem is credit availability. Often promoted poverty by concentrating ownership of land. India - Predominant smallholdings, credit problems, farms too small for mechanization. Unequal land distribution, tenant farming. Retreat from collectivization raised output.
Food is expensive, farms are small and inefficient.
Requires massive trade protection. The Green Revolution is frequently regarded as a failure. Discuss what the Green Revolution is, and indicate possible explanations for this failure. Credit is frequently mentioned as key to development. Discuss the significance of credit to a subsistence economy, and explain why widening the availability of credit might transform such an economy.