2min snip

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Summer School 6: China, Taiwan and how nations grow rich

Planet Money

ANECDOTE

The Secret Contract That Sparked China's Agricultural Revolution

  • In 1978, a group of Chinese farmers secretly divided up collective farmland among families.
  • They wrote and signed a contract, risking imprisonment or execution if discovered.
  • The contract allowed farmers to keep a portion of their crops after giving shares to the government and collective.
  • This change in economic rules led to increased productivity and competition among farmers.
  • The farmers worked longer hours, from before sunrise to after sunset, arousing suspicion from neighbors.
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