Allocation of Agricultural Production Capacity Among Commercial Markets, Food Aid, and Production Control*

Fred White, Luther Tweeten and Per Pinstrup-Andersen

Journal of Agricultural and Applied Economics, 1974, vol. 6, issue 2, 129-135

Abstract: Intermittent periods of excess supply as well as excess demand are likely to characterize American agriculture in the years ahead. Government again may choose to intervene to clear the market at acceptable prices during periods of excess supply. The principal means of removing excess capacity has been to restrain output through voluntary programs which pay farmers to divert cropland to soil-conserving uses and through aid programs which dispose of surpluses in needy countries, presumably in ways that do not interfere with commercial exports. But have these programs provided (a) maximum net farm income, (b) maximum real foreign aid, or (c) minimum U.S. Treasury Cost?This study reports a model to estimate the most efficient allocation of agricultural capacity with a domestic general land retirement program and food aid to foreign nations.

Date: 1974
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