Plowshares and pork barrels: the political economy of agriculture
Independent Institute, Sep 1, 2005 - Business & Economics - 384 pages
Agricultural subsidies in grains, cotton, milk, sugar, tobacco, honey, wool, and peanuts are analyzed in this examination of U.S. farm policy. Looking at such programs as food stamps, crop insurance, subsidized credit, trade credit, trade subsidies and import restrictions, conservation, agricultural research, and taxation, this historical perspective argues that these subsidies ultimately redistribute wealth to powerful agricultural interests who use their political clout to advance their economic interests at the expense of the general public. This analysis of government farm programs will appeal to professors and students who study agriculture; people affected by government farm policies; public officials, and businesses affected by agricultural policy such as those in food service, retail, and distribution.
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Economic Efficiency and Equity in U S Agriculture
The Economics of the Political Process
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1996 farm bill 2002 farm bill acreage activities agency agricultural policy agricultural research allotments amount benefits billion budget capital chapter co-op commodities competition conservation consumers contract crop insurance dairy program decisions decrease demand domestic economic effect example expenditures export subsidies F. A. Hayek farm programs farmers federal food assistance food stamp food stamp program funded government programs groups higher important incentive problems income redistribution increase individual inputs instituted interest labor land legislation loan rate Lorenz curve market failure market price marketing loan marketing orders ment milk Moreover nonfarm nonrecourse loan operation opportunity cost outlays output Pareto criterion parity peanut percent perfect competition political process price supports price-support programs product prices received reduce rent seeking restrictions sector Service soil specialized resources stabilize subsidized credit sugar program supply surplus tariffs tion tobacco tobacco program trade U.S. agriculture U.S. Government Printing United USDA wheat