A Billion Dollars a Day: The Economics and Politics of Agricultural Subsidies
By: E.Wesley F. Peterson (author)Paperback
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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
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.
List of Tables and Figures. Preface. List of Abbreviations. Prologue . Chapter 1: Introduction: The Problem of Agricultural Subsidies . Benin. Western Agricultural Subsidies. Organization of the Book. Chapter 2: The Economics of Government Intervention . Introduction. The Invisible Hand. Market Failures. Violation of the Basic Conditions: Imperfect Competition, Information and Risk. Public Goods and Externalities. Income Distribution, Poverty and Inequality. Conclusion. Appendix 2-1: The Theory of the Invisible Hand. Appendix 2-2: The Prisoners' Dilemma. Chapter 3: The Structure of the World Food System . Introduction. Historical Perspectives. The World Food System. Agribusiness, Government and Science. Conclusion. Appendix 3-1: Country and Commodity Classifications used in Statistical Tables. Chapter 4: Global Institutions and the World Trade Organization . Introduction. 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 . Introduction. Agricultural Policy Objectives and Tools. Agricultural Subsidies in OECD Countries. Effects of OECD Agricultural Subsidies. Conclusion. Chapter 6: U.S. Agricultural Policy: How Not to Save the Family Farm. Introduction. 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 . Introduction. 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. Introduction. Japan and Korea. Australia and New Zealand. Conclusion. Chapter 9: Agricultural Policy in Developing Countries: Cheap Food . Introduction. The Developing World. Agricultural Policy in Developing Countries. The Impacts of Agricultural and Trade Policy Reforms. Conclusion. Appendix 9-1: Country Lists. Chapter 10: Conclusion: Whither Agricultural Policy? . References. Index
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