To date, there has been little published that synthesizes and draw lessons from the economics of agricultural policy. This study fills that void, providing an economic analysis of the policies that affect agriculture and agribusiness in both Canada and the United States. 
The authors emphasize the role of farmers and agribusiness in the formation of policy, exploring the farm problem from both economic and historical perspectives. The various institutions that influence the development and implementation of policy are also discussed and compared. Because of the importance of international trade to North American agriculture, one chapter is devoted to a discussion of trade models. The book then goes on to analyze specific problems, such as price and income stabilization, science policy, environmental policy, and food quality and safety. The role of vertical markets in agriculture is emphasized throughout. The authors combine the traditional welfare economics framework with the new institutional economics and rent-seeking behaviour to explain the development of agricultural policy.
This much-needed study will be welcomed by researchers and policy analysts, as well as instructors seeking material for senior undergraduate and graduate courses.

Agricultural Policy, Agribusiness, and Rent-Seeking Behaviour

Business & Money

Schmitz, Andrew

Furtan, Hartley

Baylis, Katherine R.

Economics

University of Toronto Press, Scholarly Publishing Division

The second edition of the groundbreaking Agricultural Policy, Agribusiness, and Rent-Seeking Behaviour expands upon its original analysis of the economic policies that affect agriculture and agribusiness. Widening their lens to include information on the European Union, the authors continue to emphasize the role of farmers and agribusiness in the formation of policy, exploring the issues from both economic and historical perspectives.
More theoretical than the first volume in its discussions of welfare economics and the theory of public choice, the second edition also addresses the broad significance of agricultural policies such as biofuels, nutrition, multifunctionality, genetically modified organisms, and multinational firms. The authors maintain and expand the empirical content to provide more practical examples suited to teaching and analyse specific problems including price and income stabilization, science policy, environmental policy, and food quality and safety.

Agricultural Policy, Agribusiness and Rent-Seeking Behaviour

Moss, Charles B.

Schmitz, Troy G.

University of Toronto Press

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