Breakthrough in agricultural policy,or another policy failure?

Before the European summit in February 1988, EC agricultural policy was being criticized by almost all those affected. Farmers complained about low incomes and the lack of prospects, consumers and taxpayers about the high cost of agricultural support, politicians about spending commitments that could no longer be financed, agricultural economists about the waste of economic resources and trading partners about disruption of the world market. Have the decisions taken at the European summit set the Community on a fundamentally new course?     

Total factor productivity in South African agriculture, 1947‐91

Indices of total factor productivity (TFP) measure aggregate output per unit of aggregate input, providing a guide to the efficiency of agricultural production. This article outlines the relationship between production functions and TFP indices. Then, an index is constructed for South African agriculture for the period 1947‐91. The index shows that TFP grew at an average rate of 1,3 per cent per annum. However, TFP growth has increased since the reforms of the early 1980s. Since capital has been more realistically priced relative to labour, greater productivity growth has gone together with increasing employment, which must have improved social welfare.     

Agriculture: Toward the year 2000

When the World Food Conference of 1974 demanded the eradication of world hunger within the brief time span of ten years, experts and laymen alike were surprised. The target seemed too ambitious, and it can be safely expected that it will not be achieved. A study has now been submitted by FAO to its 20th Plenary Conference session which—without proposing a new target date—attempts to prove the feasibility of greatly reducing world hunger before the advent of the 21st century.