Rich Man's Farming: The Crisis in Agriculture

This book examines why a crisis situation was allowed to develop and proposes the most effective ways to achieve more rational agricultural support and trade policies. It focuses on the efforts to reform the Common Agricultural Policy in the EU, United States support policies, and the GATT negotiations.

Format: Hardback
Length: 110 pages
Publication date: 26 July 2023
Publisher: Taylor & Francis Ltd

Originally published in 1988, this book emerged during a period characterized by significant budgetary expenses, substantial surpluses, and detrimental trade conflicts. In undertaking this study, the focus lies in exploring the circumstances that led to the emergence of a crisis situation and proposing the most effective strategies, both nationally and internationally, to attain more rational agricultural support and trade policies. The book specifically delves into the reform efforts of the Common Agricultural Policy within the European Union, the support policies implemented by the United States, and the negotiations conducted under the framework of the General Agreement on Tariffs and Trade (GATT).

The author begins by examining the historical background and economic developments that contributed to the emergence of the crisis. They analyze the factors that led to the overproduction of agricultural commodities, the resulting surpluses, and the subsequent trade disputes. The book also explores the political and economic dynamics that shaped the policies and negotiations surrounding agricultural support and trade.

One of the key themes of the book is the need for reform in agricultural support policies. The author argues that the current policies, which often prioritize production over consumption, have led to inefficient use of resources and have contributed to the accumulation of surpluses. They propose measures such as price supports, export subsidies, and income protection programs to address these issues and promote a more sustainable and equitable agricultural system.

The book also examines the role of the World Trade Organization (WTO) in shaping global trade policies. The author argues that the WTO's rules and regulations have played a significant role in promoting trade liberalization and have contributed to the growth of international trade. However, they also note that the WTO's framework has limitations and that further reforms are necessary to address issues such as agricultural subsidies, intellectual property rights, and trade barriers.

In addition to the reform of agricultural support policies, the book also discusses the importance of trade liberalization and the need for international cooperation in addressing trade disputes. The author argues that trade conflicts can be resolved through dialogue and negotiation, and that countries can benefit from open markets and free trade. They propose measures such as reducing trade barriers, promoting fair trade practices, and resolving trade disputes through arbitration and other dispute resolution mechanisms.

Overall, this book provides a comprehensive and insightful analysis of the challenges and opportunities facing agricultural support and trade policies in the global economy. It offers valuable insights into the historical, political, and economic factors that have shaped these policies and provides practical recommendations for reform. The book is a valuable resource for policymakers, researchers, and anyone interested in understanding the complex dynamics of agricultural support and trade policies.

Dimension: 216 x 138 (mm)
ISBN-13: 9781032483795