ABSTRACT
The existence of markets, especially for commodities, long predates the development of the modern capitalist economy in many countries, and notably in India. There are several ways of analysing and interpreting the role of markets in agricultural development. The market for labour might be further distorted in opposition to the interests of labourers by being segmented, as when different tasks are allotted according to age and sex. The markets in land and irrigation water might also operate so as to reduce the resources and entitlements of poor people who rent in land. Wholesale commodity markets might operate so as to discriminate by price, quite legitimately, against sellers of small consignments who present traders with high costs of assembly. The existence of markets, especially for commodities, long predates the development of the modern capitalist economy in many countries, and notably in India.
