Contractual Mix in Southern Agriculture
Following the Civil War: Experimentation
- Gang System - Failed under free labor contracting
- Wages - Too much supervision required
- Team Production with shares
- Eventually a mix became prevalent on plantations: Wage (15%), Sharecrop (50%), Share Tenant and Fixed- Rent (35%)
Determinants of Contract Mix: Risk; Contract Enforcement; and Supervision
From Landlord's Perspective
| Wage | Sharecrop | Share Tenant | Fixed-Rent |
From Landlord's Perspective
| Wage | Sharecrop | Share Tenant | Fixed-Rent |
From Landlord's Perspective
| Wage | Sharecrop | Share Tenant | Fixed-Rent |
Relative Resource Endowments of Workers and Landlords Determine Costs of Monitoring
Examples:
Workers
- 16 year-old; no mule; and just started farming.
- 25 year-old; no mule; farming for 9 years; married with young children.
- 47 year-old; owns mule; farming for 25 years; married with two teenage sons, ages 16 and 18.
- 40 year-old; owns mule; farming for 25 years; married with four children; recently yields have become highly variable.
Landlords
- 60 year-old; married with four sons, ages 20-40.
- 40 year-old; married with business and residence in town.
- 50 year-old; in the aftermath of Civil War when labor was in short supply.
- 30 year-old; married with young children; recently doubled the size of the plantation.
- 55 year-old; recently yields have become highly variable.
Was Sharecropping Inefficient?
Was Sharecropping Responsible for Low Standard of Living?
