Abstract
This article reviews some of the salient aspects of the controversy over capitalism and the fate of Russian peasantry, among the Russian Marxists and the narodniks immediately prior to and after the Bolshevik revolution. At issue was the characterization of peasant economies. The narodniks believed that neither marginalism nor Marxism fully captured the nuances of peasant agriculture and the economic system/systems that evolved out of it; neither the market model nor class analysis adequately described the allocative and distributive processes in such economies. While nineteenth-century narodniks stressed the role of institutions based in the village community, Chayanov's twentieth-century populism stressed the organizational dynamic of peasant households within an institutional framework. Accordingly, the economics of the Chayanovian interpretation are examined from an institutional and organizational perspective. Such an exercise, it is argued, lends more credibility not only to the narodnik agenda, but also to the peasantist model of development.