A Billion Dollars a Day: The Economics and Politics of Agricultural Subsidies

A Billion Dollars a Day: The Economics and Politics of Agricultural Subsidies

By: E.Wesley F. Peterson (author)Paperback

Up to 2 WeeksUsually despatched within 2 weeks


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

About 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.


Preface viii List of Abbreviations xi Prologue xiv 1 Introduction: The Problem of Agricultural Subsidies 1 Benin 1 Western Agricultural Subsidies 7 Organization of the Book 13 2 The Economics of Government Intervention 15 Introduction 15 The Invisible Hand 17 Market Failures 21 Violations of the basic conditions: imperfect competition, information, and risk 22 Public goods and externalities 28 Income distribution, poverty, and inequality 33 Conclusion 34 Appendix 2.1: The Theory of the Invisible Hand 35 Appendix 2.2: The Prisoners Dilemma 41 3 The Structure of the World Food System 44 Introduction 44 Historical Perspectives 47 The World Food System 52 Agribusiness, Government, and Science 65 Conclusion 68 Appendix 3.1: Country and Commodity Classifications used in Statistical Tables 68 4 Global Institutions and the World Trade Organization 70 Introduction 70 The World Trade Organization 73 Agriculture in the WTO 76 Trade and Development 87 Appendix 4.1: Comparative Advantage 94 5 The Nature and Scope of Agricultural Subsidies in High-Income Countries 98 Introduction 98 Agricultural Policy Objectives and Tools 100 Agricultural Subsidies in OECD Countries 105 Effects of OECD Agricultural Subsidies 116 Conclusion 122 6 U.S. Agricultural Policy: How Not to Save the Family Farm 123 Introduction 123 Historical Overview of U.S. Farm Policy 126 The Impacts of U.S. Farm Subsidies 142 The Politics of U.S. Agricultural Policies 147 Appendix 6.1: ERS Farm Typology 150 7 Agricultural Policy in the European Union: Europe s Sacred Cows 152 Introduction 152 Agricultural Policy in the European Union 157 The Impact of the Common Agricultural Policy 170 Appendix 7.1: Green Currencies and the Re-Nationalization of the CAP 177 8 Agricultural Policy on the Pacifi c Rim: Non-Trade Concerns versus Comparative Advantage 180 Introduction 180 Japan and Korea 183 Australia and New Zealand 193 Conclusion 202 9 Agricultural Policy in Developing Countries: Cheap Food 205 Introduction 205 The Developing World 207 Agricultural Policy in Developing Countries 214 The Impacts of Agricultural and Trade Policy Reforms 224 Conclusion 229 Appendix 9.1: Country Lists 231 10 Conclusion: Whither Agricultural Policy? 235 References 253 Index 279

Product Details

  • ISBN13: 9781405185868
  • Format: Paperback
  • Number Of Pages: 320
  • ID: 9781405185868
  • weight: 490
  • ISBN10: 1405185864

Delivery Information

  • Saver Delivery: Yes
  • 1st Class Delivery: Yes
  • Courier Delivery: Yes
  • Store Delivery: Yes

Prices are for internet purchases only. Prices and availability in WHSmith Stores may vary significantly