Cacao capitalism in coastal Ecuador: Production processes and accumulation in non‐transitionary agrarian capitalism during the long 19th century

Abstract

AbstractHistories of agrarian capitalism have often been constrained by the implications of Robert Brenner's work on the subject. This essay, employing archival and secondary research on Ecuador's long 19th century experiences with cacao capitalism, argues that production processes and localized forms of accumulation, rather than class structure and legal relations, should be included in our definition of the concept. By focusing on how fixed capital in cacao trees and the production of the yearly cacao commodity responded to global demand and local material conditions, I propose amplifying the concept of agrarian capitalism, as well as a rethinking of coastal Ecuador's history of capitalist development. I highlight how both absolute and relative forms of surplus value generation coexisted in coastal Ecuador's cacao haciendas, while demonstrating how financial instruments used for extending the cacao frontier undermined the prospects for long‐term growth.