The Economics and Politics of Agricultural Subsidies
by E. Wesley F. Peterson
A Billion Dollars a Day 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.
Also included is a discussion of how these policies affect developing countries - examining, in particular, their impact on farmers in low-income countries.
Contents
1. Introduction: The Problem of Agricultural Subsidies
- Benin
- Western Agricultural Subsidies
- Organization of the Book
2. The Economics of Government Intervention
- The Invisible Hand
- Market Failures
- Violation of the Basic Conditions: Imperfect Competition, Information and Risk
- Public Goods and Externalities
- Income Distribution, Poverty and Inequality
3. The Structure of the World Food System
- Historical Perspectives
- The World Food System
- Agribusiness, Government and Science
4. Global Institutions and the World Trade Organization
- The World Trade Organization
- Agriculture in the WTO
- Trade and Development
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
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
7. Agricultural Policy in the European Union: Europe’s Sacred Cows
- Agricultural Policy in the European Union
- The Impact of the Common Agricultural Policy
8. Agricultural Policy on the Pacific Rim: Non-Trade Concerns Versus Comparative Advantage
- Japan and Korea
- Australia and New Zealand
9. Agricultural Policy in Developing Countries: Cheap Food
- The Developing World
- Agricultural Policy in Developing Countries
- The Impacts of Agricultural and Trade Policy Reforms
10. Conclusion: Whither Agricultural Policy?
Index
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