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THE IMPACT OF PUBLIC WORKS SCHEMES ON FARMING: A CASE STUDY RELATING TO A RESERVOIR AND POWER STATION IN NORTH WALES
Author(s) -
Jones W. Dyfri
Publication year - 1972
Publication title -
journal of agricultural economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.157
H-Index - 61
eISSN - 1477-9552
pISSN - 0021-857X
DOI - 10.1111/j.1477-9552.1972.tb01423.x
Subject(s) - accounts payable , agriculture , compensation (psychology) , order (exchange) , power (physics) , value (mathematics) , economics , natural resource economics , business , economy , economic growth , geography , finance , archaeology , psychology , physics , quantum mechanics , machine learning , computer science , psychoanalysis , payment
This is a study of the economic effects on farming of building a reservoir and an atomic power station in two rural areas in North Wales. Whilst these schemes undoubtedly caused much unpleasantness and serious difficulties which should not be understated and overlooked, their economic effects were not as drastic and detrimental as was at first feared by the farming community and others concerned with their well‐being. In retrospect their predominant effect was the speeding up of a process of readjustment which was already taking place, for which most of the remaining farmers may well be grateful and which those more seriously affected probably now regard as an unpleasant experience which was inevitable but which came rather suddenly. There are many lessons to be learnt from the history of these schemes. In particular, the methods of assessing both the value of land acquired compulsorily for development and the amount of compensation payable for disturbance need reviewing, in order that they may be related more closely to economic and social realities.