ASPECTS OF THE ECONOMICS OF LANDOWNERSHIP

There will be an increasing demand for additional capital as the pattern of landownership changes. In the past it was easier t o acquire on the death of a landowner a large block of land but as this land becomes broken up and becomes less homogeneous as far as landownership is concerned, this will give rise t o many social and economic problems. Undoubtedly the dead hand of the past lies heavily on the present and future pattern of British agriculture. There is a need for a change in attitude towards the new class of landowners, and for research on the implication of continuing policies that were initiated in times when there was reaction against landownership held by a few privileged individuals. It is hkely that if attention is not paid to these aspects we are likely to see landownership being transferred to institutional bodies. The past system of landownership on a personal basis will be replaced by various institutional arrangements on a very impersonal basis. Owner-occupiers (particularly those above 600 S.M.D.) faced with increasing charges for purchasing and servicing of landlord responsibilities will be forced to intensify their production and may demand greater support from government sources. It is suggested that as an immediate measure in addition to collecting information on a net farm income basis, data should be collected on the networth of individual farm businesses as well as of the industry as a whole. Non-agriculutural presswes en on land values need tc be considered. In the marginal areas part-time farming, together with tourism, or integration with other pursuits such as afforestation, appear to be sound enough proposals in general, but difficult to implement for the individual. More research work is required to assist us to deal with this problem of change of landownership and its interaction on the competing demands for capital.     

ECONOMIC ASPECTS OF FARM POVERTY

The results of the Henderson Poverty Inquiry's 1973 farm household income survey are discussed and supplemented by income distributions based on taxation returns from 1968/69 to 1972/73. It is concluded that much low income 'poverty' is temporary, being the product of the instability of agriculture. A case is made for the inclusion of wealth in farm and non-farm welfare comparisons. Proposals aimed at directly increasing incomes are discussed and hypothetical income distributions are presented to indicate the impact of the Henderson Inquiry's guaranteed income scheme on farm income distributions.     

ECONOMIC ASPECTS OF LAND DEGRADATION IN AUSTRALIA

In this article an overview of several economic aspects of land degradation in Australia is presented. The economic rationale for government intervention in land management decisions relating to degradation is explored. Some potential sources of inefficient private land use decisions are identified. However, there are significant difficulties in designing policies which will result in resource allocation decisions superior to market outcomes.     

SOME ASPECTS OF INCOME STABILIZATION FOR PRIMARY PRODUCERS

The objectives of this paper are two-fold. The first is to discuss the basic economics of an aggregate industry income stabilization policy for primary producers. The second is to examine post-World War II income instability in Australian wool, wheat, and beef and to apportion it into its price and output components. This analysis provides a basis for discussing income stabilization in the Australian context.     

THE THEORY OF AGRICULTURAL RESEARCH BENEFITS

This paper describes a new approach to the theory of agricultural research benefits based on component benefits rather than, as is customary, on surpluses. The surplus concept nevertheless emerges when the distribution of the national benefit is considered. Various published methods (Grossfield-Heath, Lindner-Jarrett, Akino-Hayami, Griliches I and II) are derived as special cases of the theory and numerically compared. Applications are briefly considered; Griliches II is used for the variability of crop yields and some typical results for the distribution of benefits are given.     

ASPECTS OF ECONOMIC DEVELOPMENT IN PAPUA AND NEW GUINEA

In Papua and New Guinea today a rapidly growing market economy, and a primitive subsistence economy exist side by side. Australian policy calls for more economic development and quicker advancement of the indigenous people. This means that tribal subsistence society must be drawn increasingly into the development of the market economy. Broad strategies for reaching these objectives are considered along with a closer examination of problems of land tenure, wage policy and planning machinery.     

SOME HUMAN ASPECTS OF GIVING AND TAKING FARM MANAGEMENT ADVICE

Superimposed on, or underlying, the technical aspects of giving farm management advice are a variety of human considerations. The techniques used and the advice given cannot be divorced from the individuals involved and the way in which advice is communicated. Management advice will be sought for a variety of reasons and from a variety of sources. It will have its own special problems, stemming from the nature of the subject itself, and will generate its own longer term benefits. Differing advisory styles exist but it is possible to suggest some general guidelines and conclusions.     

BASIS RISK AND HEDGING STRATEGIES FOR AUSTRALIAN WHEAT EXPORTS

Basis risk can play a significant role in the determination of effective hedging strategies. In this paper a portfolio framework is developed to examine the effect of basis risk on hedging strategies for Australian wheat exports. Monthly data for the period 1977 to 1984 were used to implement the analytical framework. While the traditional definition of hedging implies a hedge ratio of unity, the results of this research show that the average ratio of optimal hedge to stockholding is well below unity. Evolving market conditions can also cause the optimal hedge ratio to vary substantially over time.     

关于我国土地有偿使用制度的理论思考

我国土地使用制度从无偿、无期限使用转向有偿、有期限使用;土地有偿使用的主要形式是出让,即"批租制";出让这种有偿使用形式存在许多问题;本文从经济学的角度提出解决这一问题的途径--土地有偿使用应建立并推行"土地租赁制".     

ECONOMIC ASPECTS OF SELECTION IN THE DAIRY HERD IN ISRAEL*

The paper reports a study of the operation of the breeding system in the milk herd in Israel. Basic notions in quantitative genetics are explained and incorporated in a simulation model which is used to illustrate and analyse the selection process. Particularly emphasised are the traits common to selection and other research and development effort; among them, search, limited information, and biological and technical constraints. Differential technical changes affected the structure of the milk producing industry and its measured productivity; these effects are discussed in the last part of the paper.     

ASPECTS OF FARM PROFITABILITY: AN OUTMODED CONCEPT? PRESIDENTIAL ADDRESS

The paper begins by recording Journal articles since 1952 of relevance to farming incomes and efficiency, and follows by reviewing the literature on measuring farmers' incomes and the problems entailed, including consideration of non-farming incomes and capital gains and their relevance to agricultural policy. Definitions of ‘profit’ in selected economic texts are then compared, together with attempts to measure ‘pure profit’ from farming. Suitable charges for management and interest are then determined and estimates made of net profits and losses from different types of farming in 1986/7 and 1987/8 for both average and ‘top’ farms. Real farming incomes and capital gains from land from 1938 to 1988 are then discussed. The paper concludes by summarising why the concept of profitability from farming has now largely lost its significance—though not for all farmers.