Regulation and the Revolution in United States Farm Productivity
Book Details
Format
Paperback / Softback
ISBN-10
0521528453
ISBN-13
9780521528450
Publisher
Cambridge University Press
Imprint
Cambridge University Press
Country of Manufacture
GB
Country of Publication
GB
Publication Date
Jul 25th, 2002
Print length
328 Pages
Weight
525 grams
Dimensions
23.00 x 15.30 x 2.30 cms
Ksh 6,250.00
Manufactured on Demand
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Since the 1930s, US agriculture has undergone a revolution in productivity. Sally Clarke explains how government activity, by stabilizing prices, introducing new sources of credit, and prompting tool manufacturers to revise their business strategies, created a climate favorable to rapid gains in productivity.
Since the 1930s when the government began active regulation, US agriculture has undergone a revolution in productivity. Sally Clarke explains how government activity, from support for research to price supports and farm credit programs, created a climate favorable to rapid gains in productivity. Farmers in the Corn Belt delayed purchases of the tractor, the most important agricultural technology, despite the cost savings it promised. Tractor purchases required large sums of cash at a time when families faced unstable prices and unattractive credit markets. The New Deal inadvertently changed this investment climate. Regulation stabilized prices, introduced new sources of credit, and caused tool manufacturers and private creditors to revise their business strategies. Competitive farmers took advantage of these new conditions to invest in expensive technology and achieve new gains in productivity.
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