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Economic Well-Being of Farm Households

  • Jones, Carol Adaire
  • El-Osta, Hisham S.
  • Green, Robert C.
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    Farm subsidy programs were introduced in the 1930s largely due to concern for chronically low, and highly variable, incomes of US farm households. Today commodity-based support programs are still prominent, though income and wealth of the average farm household now exceed that of the average nonfarm households - by a large margin. Farm income continues to be highly variable, but the small set of farm households most at risk for income variability - because farm income represents more than one-third of household income - are those operating large farms. And they have substantial net worth, which cushions uncertain farm income.

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    File URL: http://purl.umn.edu/34095
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    Paper provided by United States Department of Agriculture, Economic Research Service in its series Economic Brief with number 34095.

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    Date of creation: 2006
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    Handle: RePEc:ags:uerseb:34095
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