The term penny capitalism was first used in 1953 to describe
indigenous
Indigenous may refer to:
*Indigenous peoples
*Indigenous (ecology), presence in a region as the result of only natural processes, with no human intervention
*Indigenous (band), an American blues-rock band
*Indigenous (horse), a Hong Kong racehorse ...
economies in which there is
land tenure
In common law systems, land tenure, from the French verb "tenir" means "to hold", is the legal regime in which land owned by an individual is possessed by someone else who is said to "hold" the land, based on an agreement between both individual ...
over tiny plots of land, where farmers produce crop surplus and engage in small-scale trading.
Microfinance
Microfinance is a category of financial services targeting individuals and small businesses who lack access to conventional banking and related services. Microfinance includes microcredit, the provision of small loans to poor clients; savings ...
evolved in penny capitalist economie
Sol Tax
Sol Tax (30 October 1907 – 4 January 1995) was an American anthropologist. He is best known for creating action anthropology and his studies of the Meskwaki, or Fox, Indians, for "action-anthropological" research titled the Fox Project, and for ...
published a book entitled ''Penny Capitalism'' . He is said to have coined this ter
Capitalism
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