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The Food and Agriculture Act of 1977: Issues and Decisions

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  • R. G. F. Spitze

Abstract

While the Food and Agriculture Act of 1977 has much in common with previous legislation and continues the evolution of agricultural and food policy, important changes are made in grain reserves, food stamps, procedures for setting target levels, support prices, acreage bases on individual farms, as well as administration and funding of research and education. Some consequences are evident, but much will depend upon unpredictable events of weather and foreign markets. The results of the Act, as compared to no policy, are traced for consumers, producers, foreign trade, and U.S. Treasury payments, under alternative scenarios. If shortages return, much of the law becomes irrelevant.

Suggested Citation

  • R. G. F. Spitze, 1978. "The Food and Agriculture Act of 1977: Issues and Decisions," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 60(2), pages 225-235.
    • Handle: RePEc:oup:ajagec:v:60:y:1978:i:2:p:225-235.
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    File URL: http://hdl.handle.net/10.2307/1240051
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    Cited by:

    1. Bruce L. Benson & M. D. Faminow, 1986. "Regulatory Transfers in Canadian/American Agriculture: The Case of Supply Management," Cato Journal, Cato Journal, Cato Institute, vol. 6(1), pages 271-294, Spring/Su.
    2. Musser, Wesley N. & Stamoulis, Kostas G., 1980. "Risk Transfer And Commodity Programs," Risk Analysis in Agriculture: Research and Educational Developments, January 16-18, 1980, Tucson, Arizona 271565, Regional Research Projects > W-149: An Economic Evaluation of Managing Market Risks in Agriculture.
    3. Meyers, William H. & Jolly, Robert W., 1980. "Price Implications of Farmers' Response to the Farmer-Owned Reserve Program," 1980 Annual Meeting, July 27-30, Urbana-Champaign, Illinois 278855, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    4. Arthur J. Rolnick & Warren E. Weber, 1986. "Inherent Instability in Banking: The Free Banking Experience," Cato Journal, Cato Journal, Cato Institute, vol. 5(3), pages 877-890, Winter.

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