This volume is concerned with the paradigm shifts occurring in U.S. agriculture and its related financial services sector. The U.S. agricultural sector is undergoing rapid change with large segments commonly described as industrialized. Often observers focus on the technological and structural changes that the sector is undergoing and ignore other
What are the grand dynamics that drive the accumulation and distribution of capital? Questions about the long-term evolution of inequality, the concentration of wealth, and the prospects for economic growth lie at the heart of political economy. But satisfactory answers have been hard to find for lack of adequate data and clear guiding theories. In this work the author analyzes a unique collection of data from twenty countries, ranging as far back as the eighteenth century, to uncover key economic and social patterns. His findings transform debate and set the agenda for the next generation of thought about wealth and inequality. He shows that modern economic growth and the diffusion of knowledge have allowed us to avoid inequalities on the apocalyptic scale predicted by Karl Marx. But we have not modified the deep structures of capital and inequality as much as we thought in the optimistic decades following World War II. The main driver of inequality--the tendency of returns on capital to exceed the rate of economic growth--today threatens to generate extreme inequalities that stir discontent and undermine democratic values if political action is not taken. But economic trends are not acts of God. Political action has curbed dangerous inequalities in the past, the author says, and may do so again. This original work reorients our understanding of economic history and confronts us with sobering lessons for today.
"The challenges facing agriculture are plenty. Along with the world's growing population and diminishing amounts of water and arable land, the gradual increase in severe weather presents new challenges and imperatives for producing new, more resilient crops to feed a more crowded planet in the twenty-first century. Innovation has historically helped agriculture keep pace with earth's social, population, and ecological changes. In the last 50 years, mechanical, biological, and chemical innovations have more than doubled agricultural output while barely changing input quantities. The ample investment behind these innovations was available because of a high rate of return: a 2007 paper found that the median ROI in agriculture was 45 percent between 1965 and 2005. This landscape has changed. Today many of the world's wealthier countries have scaled back their share of GDP devoted to agricultural R&D amid evidence of diminishing returns. Universities, which have historically been a major source of agricultural innovation, increasingly depend on funding from industry rather than government to fund their research. As Upton Sinclair wrote of the effects industry influences, "It is difficult to get a man to understand something when his salary depends upon his not understanding it." In this volume of the NBER Conference Report series, editor Petra Moser offers an empirical, applied-economic framework to the different elements of agricultural R&D, particularly as they relate to the shift from public to private funding. Individual chapters examine the sources of agricultural knowledge and investigate challenges for measuring the returns to the adoption of new agricultural technologies, examine knowledge spillovers from universities to agricultural innovation, and explore interactions between university engagement and scientific productivity. Additional analysis of agricultural venture capital point to it as an emerging and future source of resource in this essential domain"--
In the last 20 years, there has been a remarkable emergence of innovations and technological advances that are generating promising changes and opportunities for sustainable agriculture, yet at the same time the agricultural sector worldwide faces numerous daunting challenges. Not only is the agricultural sector expected to produce adequate food, fiber, and feed, and contribute to biofuels to meet the needs of a rising global population, it is expected to do so under increasingly scarce natural resources and climate change. Growing awareness of the unintended impacts associated with some agricultural production practices has led to heightened societal expectations for improved environmental, community, labor, and animal welfare standards in agriculture. Toward Sustainable Agricultural Systems in the 21st Century assesses the scientific evidence for the strengths and weaknesses of different production, marketing, and policy approaches for improving and reducing the costs and unintended consequences of agricultural production. It discusses the principles underlying farming systems and practices that could improve the sustainability. It also explores how those lessons learned could be applied to agriculture in different regional and international settings, with an emphasis on sub-Saharan Africa. By focusing on a systems approach to improving the sustainability of U.S. agriculture, this book can have a profound impact on the development and implementation of sustainable farming systems. Toward Sustainable Agricultural Systems in the 21st Century serves as a valuable resource for policy makers, farmers, experts in food production and agribusiness, and federal regulatory agencies.
The astounding success of agricultural research has enabled farmers to produce increasingly more—and more kinds—of food throughout the world. But with a projected 9 billion people to feed by 2050, veteran researcher Gale Buchanan fears that human confidence in this ample supply, especially in the US, has created unrealistic expectations for the future. Without a working knowledge of what types and amounts of research produced the bounty we enjoy today, we will not be prepared to support the research necessary to face the challenges ahead, including population growth, climate change, and water and energy scarcity. In this book, Buchanan describes the historical commitment to research and the phenomenal changes it brought to our ability to feed ourselves. He also prescribes a path for the future, pointing the way toward an adequately funded, more creative agricultural research system that involves scientists, administrators, educators, farmers, politicians, and consumers; resides in one “stand alone” agency; enjoys a consistent funding stream; and operates internationally.
This book is a contribution to the international trade and economic development literature and is based on a decade of joint research and collaboration on South–South economic relations. Given the increasing focus on the economic power of some developing countries, for example the 2013 Human Development Report’s “Rise of the South”, it is particularly appropriate and timely. [NP] The book’s findings are based on rigorous empirical examination of South–South trade and finance and it provides an even-handed assessment from the perspective of long-term development goals rather than mainstream welfare approaches or ideological/theoretical worldview. [NP] This work directly engages with the ‘new developmentalism’ literature that has challenged the neoliberal orthodoxy and its policy approach, which focuses on liberalization, privatization, and deregulation. It also engages with literature by examining whether the increase in South–South trade facilitates or inhibits the possibilities for developmentalist economic policy in developing countries. The book shows concrete and positive results from South–South trade particularly related to industrial development and also documents how South–South trade is dominated by large developing countries and that South–South trade liberalization may be counterproductive.
Sensors, satellite photography, and multispectral imaging are associated with futuristic space and communications science. Increasingly, however, they are considered part of the future of agriculture. The use of advanced technologies for crop production is known as precision agriculture, and its rapid emergence means the potential for revolutionary change throughout the agricultural sector. Precision Agriculture in the 21st Century provides an overview of the specific technologies and practices under the umbrella of precision agriculture, exploring the full implications of their adoption by farmers and agricultural managers. The volume discusses how precision agriculture could dramatically affect decisionmaking in irrigation, crop selection, pest management, environmental issues, and pricing and market conditions. It also examines the geographical dimensions--farm, regional, national--of precision agriculture and looks at how quickly and how widely the agricultural community can be expected to adopt the new information technologies. Precision Agriculture in the 21st Century highlights both the uncertainties and the exciting possibilities of this emerging approach to farming. This book will be important to anyone concerned about the future of agriculture: policymakers, regulators, scientists, farmers, educators, students, and suppliers to the agricultural industry.
Agricultural policy reform has become a very hot topic. Over the next couple of years we will see the funding for these programs being hotly debated. The thesis of this book is that a better-informed public is essential to bring rationality to farm policy. This book provides telling evidence that markets work, that competent commercial farmers will earn returns on their resources as high as those earned elsewhere in the absence of income transfer to farmers.
With the global adoption of the green revolution in the 1970s; the long historical legacy of agricultures boom and bust cycle seemedfinallyto be put on hold. It appeared as though the apocalyptic nightmare of famine had been vanquished. However, now, man-made climate change poses a new and immediate crisisfrom Syria to South Sudanhow do we feed the 10 billion people likely to inhabit the plant by 2050? How do we continue to feed, sustainably, the 7.5 billion of us that are already here? How do we do so in a climate that is becoming increasing hostile to food security? This book explores the history of agriculture, and the threat that climate change imposes for all aspects of our daily bread. While these challenges are severe and significant, it argues that we are not without hope, and offers a wide range of solutions, from polyculture farming to feminism that can, when applied, lead to a better future for humankind.
