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In a lively, non-technical, and up-to-date account, this book addresses the core questions that surround the issues of agricultural subsidies.
Explores these questions: Why do we have subsidies? How did they evolve? What is the present and possible future of subsidies? What is their impact on a typical African farmer?
Written for the general public, this book will also be useful for courses in Agricultural Policy
Provides a detailed examination of subsidy histories and the current policies of the United States, various European countries, Australia and New Zealand, and Korea and Japan
Includes a discussion of how these policies affect developing countries—examining, in particular, their impact on many African farmers
List of Tables and Figures.
List of Abbreviations.
Chapter 1: Introduction: The Problem of Agricultural Subsidies.
Western Agricultural Subsidies.
Organization of the Book.
Chapter 2: The Economics of Government Intervention.
The Invisible Hand.
Violation of the Basic Conditions: Imperfect Competition, Information and Risk.
Public Goods and Externalities.
Income Distribution, Poverty and Inequality.
Appendix 2-1: The Theory of the Invisible Hand.
Appendix 2-2: The Prisoners’ Dilemma.
Chapter 3: The Structure of the World Food System.
The World Food System.
Agribusiness, Government and Science.
Appendix 3-1: Country and Commodity Classifications used in Statistical Tables.
Chapter 4: Global Institutions and the World Trade Organization.
The World Trade Organization.
Agriculture in the WTO.
Trade and Development.
Appendix 4-1: Comparative Advantage.
Chapter 5: The Nature and Scope of Agricultural Subsidies in High-Income Countries.
Agricultural Policy Objectives and Tools.
Agricultural Subsidies in OECD Countries.
Effects of OECD Agricultural Subsidies.
Chapter 6: U.S. Agricultural Policy: How Not to Save the Family Farm.
Historical Overview of U.S. Farm Policy.
The Impacts of U.S. Farm Subsidies.
The Politics of U.S. Agricultural Policy.
Appendix 6-1: ERS Farm Typology.
Chapter 7: Agricultural Policy in the European Union: Europe’s Sacred Cows.
Agricultural Policy in the European Union.
The Impact of the Common Agricultural Policy.
Appendix 7-1: Green Currencies and the Re-Nationalization of the CAP.
Chapter 8: Agricultural Policy on the Pacific Rim: Non-Trade Concerns Versus Comparative Advantage.
Japan and Korea.
Australia and New Zealand.
Chapter 9: Agricultural Policy in Developing Countries: Cheap Food.
The Developing World.
Agricultural Policy in Developing Countries.
The Impacts of Agricultural and Trade Policy Reforms.
Appendix 9-1: Country Lists.
Chapter 10: Conclusion: Whither Agricultural Policy?.
About the Author
E. Wesley F. Peterson is a Professor of Agricultural Economics at the University of Nebraska-Lincoln. He holds a BA in Anthropology from the University of California-Berkeley, a Masters in Public Affairs from Princeton University and a PhD in Agricultural Economics from Michigan State University. He was a Faculty Member at a French agribusiness institute and at Texas A&M University before moving to Nebraska. His research and teaching interests are in the areas of international agricultural trade, agricultural policy, and agricultural development in low-income countries. He is the author of The Political Economy of Agricultural, Natural Resource, and Environmental Policy Analysis (Iowa State University Press, Ames, IA 2001) and has authored and co-authored numerous journal articles and other publications.