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1 1 (1973)

handle is hein.amenin/aeiaail0001 and id is 1 raw text is: Farm Commodity Programs: An Opportunity for Change by D. Gale Johnson evaluates the cotton, wheat and feed grain programs and recommends changes in those programs to accommodate to existing conditions. After measuring the costs and benefits of the programs, the author concludes that the costs imposed upon consumers and taxpayers are two to three times greater than the net income benefits realized by farmers. Most of these net benefits have been capitalized into higher land values, he finds, and low-income farm families have received little or no advantage. Dr. Johnson recommends a long-run farm program that includes price supports at or below expected market prices and a standby supply management program. The importance of trade liberalization to agriculture is stressed, D. Gale Johnson is professor of economics and chairman of the Department of Economics at the University of Chicago. Formerly president of the American Farm Economic Association (1964-65), he has also served as a member of the President's National Advisory Commission on Food and Fiber (1965-67) and of the Commission on Population Growth and the American Future (1970-72) I 0 0 a a p Ame.ran Enterprise Institute for Public Policy Research 1150 Seventeenth Street, NAW., Washington, D. C. 20036 Evaluative Studies FARM COMMODITY PROGRAMS An opportunity for change D. Gale Johnson r r~1 I U = II Job Name:2228287 Date:15-05-04 PDF Page:2228287pbc.pl.pdf Color: Ca Magenta Black - I Ill i-i . I UU Ij I L' - - = 11

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