Long-Run Outlook for Agricultural Adjustments Based on National Growth

Luther G. Tweeten and James S. Plaxico

American Journal of Agricultural Economics, 1964, vol. 46, issue 1, 39-55

Abstract: The hypothesis that emphasis on national growth will lead to continued pressures for farm adjustments in the long run is evaluated in this article. Support for this hypothesis stems from the national goal of adequate food supplies and economic growth. Emphasis on education and research to stimulate growth by releasing technology and skills for high productivity in agriculture can create downward income pressures for farmers over an extended period. Estimates of aggregate product supply and resource demand elasticities provide some measure of the impact of changing technology on income in agriculture and the redistribution of income between farm and nonfarm sectors. While the results of the analysis suggest a likely outcome of rapid growth in farm productivity, this outcome is conditioned by the decision criteria used by society, ability to create new farm technology, future changes in the economic structure of agriculture and weather.

Date: 1964
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