IMPACTS OF THE FARM FINANCIAL CRISIS OF THE 1980s ON RESOURCES AND POVERTY IN AGRICULTURALLY DEPENDENT COUNTIES IN THE UNITED STATES

Steve H. Murdock, F. Leistritz and Rita R. Hamm

Review of Policy Research, 1988, vol. 7, issue 4, 810-827

Abstract: The farm financial crisis of the 1980s has had a major effect on agriculturally dependent areas in the United States. The crisis has resulted in a large proportion of producers leaving agriculture, in a substantial decline in the number of rural businesses, and in the support for rural service bases. Although extensively analyzed, the crisis' impacts on resources and poverty have not been adequately evaluated. This paper examines such impacts using parameters derived from USDA data and from extensive surveys of producers, business operators, and employees in rural communities. The results show effects on populations, services, and income that could lead to a substantial increase in the rates of poverty in these counties. The paper concludes that the crisis, if left unaddressed, may result in a long‐term loss of economic opportunities, accentuated rates of poverty, and reduced potential for economic development in agriculturally dependent areas in the United States.

Date: 1988
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