The European Union's Common Agricultural Policy (CAP)
The EU's CAP has changed significantly over theyears, largely as a result of international pressure through GATT and the WTO, but it still has the support of farm incomes as its main concern. The old CAP of market price support has more or less been displaced by decoupled income support, in the shape of the Single Payment Scheme. Cross compliance applies, addressing concerns about European agriculture's multifunctionality; and there is a renewed anxiety about food security. The CAP's Second Pillar, with targeted support for rural development and environmental protection, plays a subsidiary role.
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|This chapter was published in: Steven N. Durlauf & Lawrence E. Blume (ed.) , , pages , 2011, 2nd quarter update.|
|This item is provided by Palgrave Macmillan in its series The New Palgrave Dictionary of Economics with number v:5:year:2011:doi:3851.|
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