Abstract: This report analyzes the financial structure of farmer cooperatives, including amounts, types and sources of equity and borrowed capital. Sales and other operating income and amounts and distribution of net savings and losses are also covered. Data are presented by major function, principal products handled, geographic location and income tax status of the cooperatives. While the data are for fiscal year 1976, they are benchmark data and will be useful indefinitely as base data for conducting other studies dealing with cooperative financing.
The investor-owned corporation is the conventional form for structuring large-scale enterprise in market economies. But it is not the only one. Even in the United States, noncapitalist firms play a vital role in many sectors. Employee-owned firms have long been prominent in the service professions--law, accounting, investment banking, medicine--and are becoming increasingly important in other industries. The buyout of United Airlines by its employees is the most conspicuous recent instance. Farmer-owned produce cooperatives dominate the market for most basic agricultural commodities. Consumer-owned utilities provide electricity to one out of eight households. Key firms such as MasterCard, Associated Press, and Ace Hardware are service and supply cooperatives owned by local businesses. Occupant-owned condominiums and cooperatives are rapidly displacing investor-owned rental housing. Mutual companies owned by their policyholders sell half of all life insurance and one-quarter of all property and liability insurance. And nonprofit firms, which have no owners at all, account for 90 percent of all nongovernmental schools and colleges, two-thirds of all hospitals, half of all day-care centers, and one-quarter of all nursing homes. Henry Hansmann explores the reasons for this diverse pattern of ownership. He explains why different industries and different national economies exhibit different distributions of ownership forms. The key to the success of a particular form, he shows, depends on the balance between the costs of contracting in the market and the costs of ownership. And he examines how this balance is affected by history and by the legal and regulatory framework within which firms are organized. With noncapitalist firms now playing an expanding role in the former socialist countries of Eastern Europe and Asia as well as in the developed market economies of the West, The Ownership of Enterprise will be an important book for business people, policymakers, and scholars.
The U.S. Department of Agriculture (USDA) requested that the Board on Agriculture and Natural Resources of the National Research Council (NRC) convene a panel of experts to examine whether publicly funded agricultural research has influenced the structure of U.S. agriculture and, if so, how. The Committee to Review the Role of Publicly Funded Agricultural Research on the Structure of U.S. Agriculture was asked to assess the role of public-sector agricultural research on changes in the size and numbers of farms, with particular emphasis on the evolution of very-large-scale operations.
"Eloquent and detailed...It's hard to have hope, but the organized observations and plans of Hoffman and people like her give me some. Read her book -- and listen." -- Jane Smiley, The Washington Post In her late 40s, Beth Hoffman decided to upend her comfortable life as a professor and journalist to move to her husband's family ranch in Iowa--all for the dream of becoming a farmer. There was just one problem: money. Half of America's two million farms made less than $300 in 2019, and many struggle just to stay afloat. Bet the Farm chronicles this struggle through Beth's eyes. She must contend with her father-in-law, who is reluctant to hand over control of the land. Growing oats is good for the environment but ends up being very bad for the wallet. And finding somewhere, in the midst of COVID-19, to slaughter grass finished beef is a nightmare. If Beth can't make it, how can farmers who confront racism, lack access to land, or don't have other jobs to fall back on hack it? Bet the Farm is a first-hand account of the perils of farming today and a personal exploration of more just and sustainable ways of producing food.
