who benefits from agricultural subsidies (it's not who you think!)
TRANSCRIPT
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Who Benefits from Agricultural
Subsidies
(It’s not who you think!)
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A farmer is a man out standing in
his field
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A farmer is a man out standing in
his field
![Page 5: Who Benefits from Agricultural Subsidies (It's not who you think!)](https://reader031.vdocuments.site/reader031/viewer/2022032616/55a533161a28abb35f8b46e7/html5/thumbnails/5.jpg)
New and emerging research on
the capitalization of agricultural
subsidies into farmland values
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DO WE REALLY KNOW WHAT WE THINK WE KNOW?
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“That question has already been answered.”
• Anonymous advisor
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“One of the things that I think is fairly well
agreed upon…is that the way in which
[subsidy programs] affect farmers’ income is
[by] holding up land values and land rental
values”
• Bruce Gardner (2001)
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“The capitalization of program benefits into
land values has in recent years been
carefully documented.”
• Vernan Ruttan
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“The [government program] coefficients are
biased upward” because they are “inclusive
of the value of cropland when what is
desired is the allotment values [sic] alone.”
• James Hedrick (1962)
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20¢
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“I don’t know how you are wrong, but your
wrong.”
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40¢
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Short Term
20¢Long Term
40¢
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Study Location Incidence
Woodard et al. (2012) Illinois 19-30%
Kirwan & Roberts (2013) U.S. Soybeans 21%
Breustedt & Habermann (2001) Germany 38%
Van Herck & Vranken (2011) New EU-Member States 15%
Patton et al. (2008) Northern Ireland 1.19%
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DO WE REALLY KNOW WHAT WE THINK WE KNOW?
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“[T]he constraining force of custom and
public opinion ... resembled the force which
holds rain-drops on the lower edges of a
window frame: the repose is complete till the
window is violently shaken, and then they
fall together.”
• Alfred Marshall
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“Why would I raise the rent on my farmer? I
want to make sure he keeps on farming.”
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DO WE REALLY KNOW WHAT WE THINK WE KNOW?
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DO WE REALLY KNOW WHAT WE THINK WE KNOW?
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Who benefits from agricultural
subsidies?
Tenant farmers and small farmers