This potential disparity in availability of
private insurance between regions and
crops is sometimes cited as a reason for
government intervention (U.S. GAO, 1980;
Appel, Lord, and Harrington, 1999), but
here again, crop insurance is not unique.
Many risk management tools used by
farmers are available only in certain
regions. For example, cash forward
contracting is widely available for corn
and soybean producers in the Midwest,
although the same is not necessarily true
for producers in regions where basis risk
Since Kant, philosophy has been obsessed with epistemological questions pertaining to the relationship between mind and world and human access to objects. In The Democracy of Objects Bryant proposes that we break with this tradition and once again initiate the project of ontology as first philosophy. Drawing on the object-oriented ontology of Graham Harman, as well as the thought Roy Bhaskar, Gilles Deleuze, Niklas Luhman, Aristotle, Jacques Lacan, Bruno Latour and the developmental systems theorists, Bryant develops a realist ontology that he calls “onticology”.
The purpose of this essay is to show how credit markets influence
development and to argue that the impact of improvements in credit markets is
quantitatively significant. The essay first establishes the fact that access to credit is
limited, emphasizing the magnitudes. It then goes on to the potential importance of
financial sector development, again quantifying the impact. Toward the end of the
essay there is a discussion of the merits of different interventions.