A Quarter Century of Agricultural Economics in Retrospect and in Prospect*

Lloyd C. Halvorson

Journal of Agricultural and Applied Economics, 1975, vol. 7, issue 1, 17-24

Abstract: A philosopher once said that history should be studied because the past repeats itself, but I prefer the statement that those who do not sudy history are condemned to repeating it. I also like the quote at the National Archives: The past is “prologue.” When a tourist asked what this meant, a Washington taxi driver said, “It means you ain't seen nothing yet.” That was in 1950. He was right. Who in 1950 expected to see sputniks, satellites, and men walking on the moon? We entered the 1950–1975 era thinking that agricultural economics consisted of: (1) production economics, (2) marketing, (3) price analysis, (4) agricultural policy, and (5) land economics. We are leaving it thinking that it covers: (1) commercial agriculture, (2) natural resources development, and (3) human and community development.

Date: 1975
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