"The authors emphasize the role of farmers and agribusiness in the formation of policy, exploring the farm problem from economic and historical perspectives. The various institutions that influence the development and implementation of policy are also discussed and compared. Because of the importance of international trade to North American agriculture, a chapter devoted to a discussion of trade models is included.

The book analyses specific problems, such as price and income stabilization, science policy, environmental policy, and food quality and safety. The role of vertical markets in agriculture is emphasized throughout. The authors examine the traditional welfare economics framework in light of the new institutional economics and rent-seeking behaviour to explain the development of agricultural policy.".

"This study will be welcomed by researchers and policy analysts, as well as instructors seeking material for senior undergraduate and graduate courses."--BOOK JACKET.