Agricultural Policy for the 21st Century by Luther G. Tweeten, Stanley R. Thompson

By Luther G. Tweeten, Stanley R. Thompson

Agricultural coverage reform has develop into a truly sizzling subject. Over the subsequent couple of years we are going to see the investment for those courses being hotly debated. The thesis of this ebook is better-informed public is key to convey rationality to farm coverage. This ebook presents telling facts that markets paintings, that useful advertisement farmers will earn returns on their assets as excessive as these earned somewhere else within the absence of source of revenue move to farmers.

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2 percent of the nation’spopulation to command a large chunk of the treasury? More time can be spent usehlly on educating the general public regarding the new agriculturalpolicy paradigm before that question can be answered. NOTES 1. Satisfactionderived from another dollar declines on average (diminishing marginal utility of income) as income rises, but additional income is essential to draw competent people to demanding jobs that meet people’s needs. Hence, diminishing marginal utility is not a case for egalitarianism(equal incomes among people).

Use of environmental programs such as U S . Senator Tom Harkin’s Conservation Security Act of 2001 as a “Trojan horse” to channel direct payments to farmers serves neither the environment nor farm economic welfare well. Economic growth fostered by letting markets work can benefit the environment (see chapter 11 by Hervani and Tweeten). And markets can be used more widely to address environmentaland culturaVlifestyleconcerns, including preservation of farmland, as pointed out by Lawrence Libby in chapter 10.

Review of Agricultural Economics 19 (Spring/Summer 1996): 1217-18. Gardner, B. ” American Journal of Agricultural Economics 82 (December 2000): 1059-74. Goodwin, B. S. ” Journal of Agribusiness 18 (March 200): 71-89. , B. Jones, M. Martin, and R. Spitze. Bulletin 787. Champaign-Urbana: Agricultural Experiment Station, University of Illinois, 1989. , M. Morehart, L. Whitener, L. Ghelfi, J. Johnson, K. Kassel, B. Kuhn, A. Mishra, S. Ofhtt, and L. A Safety Netfor Farm Households. Agricultural Economic Report 788.

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