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On Measuring Farmers' Economic Weil‐Being
Author(s) -
Chase Linda,
Lerohl M.L.
Publication year - 1981
Publication title -
canadian journal of agricultural economics/revue canadienne d'agroeconomie
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.505
H-Index - 37
eISSN - 1744-7976
pISSN - 0008-3976
DOI - 10.1111/j.1744-7976.1981.tb02074.x
Subject(s) - net income , net farm income , net worth , agriculture , economics , asset (computer security) , measure (data warehouse) , farm income , agricultural economics , business , labour economics , finance , production (economics) , geography , microeconomics , debt , computer security , archaeology , database , computer science
Summary A measure broader than net farm income has been used to examine the economic well‐being of farmers. The composite measure incorporating farm returns to labor and management, off‐farm income, and net worth values, shows Canadian farmers' economic well‐being has improved in real terms since 1967. However, disparity in the measure among provinces has increased. Off‐farm income and annuities of net worth have increased in importance, relative to the total economic well‐being measure, though at different rates in different provinces, and should not be ignored in agricultural policies and programs. Two related issues require further attention. One is to examine the interaction of money income and asset ownership within the farm sector; the other is to provide comparison groups in the non‐farm sector which take into account money income and net worth. The annuity approach to net worth may provide an appropriate instrument for comparison.