Informal Security Strategies in Madagascar's Grain Markets
In Madagascar's grain markets, where formal legal protections for property were lacking, traders instituted their own security measures. To mitigate the risk of theft, they consciously maintained low inventory levels, personally guarded their stores, and chose not to hire additional staff. When moving goods, they traveled in convoys and paid for protection. Additionally, they favored simple 'cash and carry' transactions to sidestep potential contract disputes.
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Introduction to Microeconomics Course
The Economy 2.0 Microeconomics @ CORE Econ
Ch.10 Market successes and failures: The societal effects of private decisions - The Economy 2.0 Microeconomics @ CORE Econ
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