Reference > The New Dictionary of Cultural Literacy > 18. Business and Economics
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  The New Dictionary of Cultural Literacy, Third Edition.  2002.
 
peonage
 
 
(PEE-uh-nij) A system of forced labor based on debts incurred by workers. Peonage developed particularly in plantation economies, where employers forced laborers to buy from employer-owned stores, pay inflated prices, and stay in debt.  1
 
 
The New Dictionary of Cultural Literacy, Third Edition. Edited by E.D. Hirsch, Jr., Joseph F. Kett, and James Trefil. Copyright © 2002 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved.

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