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A SALIENT FEATURE OF CAPITAL ACCUMULATION IN TAIWAN
Author(s) -
SASAMOTO TAKEHARU
Publication year - 1968
Publication title -
the developing economies
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.305
H-Index - 30
eISSN - 1746-1049
pISSN - 0012-1533
DOI - 10.1111/j.1746-1049.1968.tb00959.x
Subject(s) - barter , capital (architecture) , salient , government (linguistics) , business , capital accumulation , financial capital , economics , finance , economic system , agricultural economics , market economy , geography , political science , human capital , law , linguistics , philosophy , archaeology
The system of compulsory collection of rice by the Taiwan Provincial Food Bureau is a peculiarly Taiwanese device to achieve forced savings and capital accumulation, and has played a role in the development and stabilization of the Taiwan economy. This process of capital accumulation is of a unique nature especially in that it is designed to enable the government to economize its financial resources which otherwise would have had to be secured through other channels. The compulsory collection of rice is carried out by means of collecting taxes in kind, compulsory bartering of rice for fertilizer, which in essence means collection of the peasants’rice on the basis of an inequivalent exchange.