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POLICY DIRECTION AND ECONOMIC INTERPRETATIONS OF THE U.S. AGRICULTURAL ACT OF 1970
Author(s) -
Spitze R. G. F.
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.tb01434.x
Subject(s) - negotiation , agriculture , set aside , payment , economics , agricultural policy , government (linguistics) , aside , direct payments , economic policy , public economics , agricultural economics , political science , finance , geography , law , art , agronomy , linguistics , philosophy , literature , archaeology , biology
Review and change have recently characterised governmental price and income policy for agriculture in the U.K., E.E.C. and U.S. This study of the U.S. Agricultural Act of 1970, effective for the major crops for the next three years, is a follow‐up to an earlier article in this Journal on the policy of the 1960's. An analysis is made of the new Act's development, provisions, and probable consequences. Although voluntary land retirement, compensatory payment policy is continued, a ‘set‐aside’ modification is likely to have implications for either government costs or farmer incomes. The slightly lower supports and higher payments contrasts with the apparent current direction of European policy. Consideration is given to current negotiations and policy differences among these three trading groups.