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This book examines the structure and organization of the agricultural industry, then discusses basic micro and macroeconomics principles as they apply to agriculture. Principles of economics are used to demonstrate to the reader that theory actually makes reality more understandable. The book is at the right level and is kept consistently up-to-date-the only text that has been consistently revised!
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The questions of population growth and food supply have long been of central concern to economists. The World Food Economy seeks to examine the lessons of the past for wealthy nations, where agricultural output has steadily risen for decades, as well as for developing nations where the advances of the “Green Revolution” in the 1960s have introduced new problems in addition to solutions. This text assesses the challenge of satisfying food demand during the twenty-first century as consumers and producers in every part of the world—rich and poor alike—feel the effects of expanded global commodity trade, food aid, and national legislation in response to globalization. Examines increases in agricultural output and productivity in both the developed and developing worlds Analyzes the centrality of agricultural development to general economic progress and explores cases where governments attempt to foster economic expansion while neglecting food production Assesses the challenge of satisfying food demand during the twenty-first century, given the effects of globalization on international trade and national legislation.