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AGRICULTURAL POLICY AT THE CROSSROADS—AGAIN
Author(s) -
CARTER HAROLD O.
Publication year - 1986
Publication title -
contemporary economic policy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.454
H-Index - 49
eISSN - 1465-7287
pISSN - 1074-3529
DOI - 10.1111/j.1465-7287.1986.tb00832.x
Subject(s) - great depression , agriculture , depression (economics) , debt , agricultural economics , economics , economic policy , political science , finance , geography , macroeconomics , law , archaeology
American agriculture is suffering from severe structural adjustments and from its worst financial depression since landmark price and income policies were legislated more than half a century ago. As much as one‐third of the $220 billion in agricultural debt is now delinquent, nonaccrual, or subject to renegotiation. Land values have fallen precipitously in the past few years. Farm foreclosures are near 1930 Depression levels. The congressional debate over programs that could determine the course of U.S. agriculture for the remainder of the century began in the summer of 1985.