 Agriculture and Economic Growth: A ReportEconomic Research Service No 307183, Agricultural Economic Reports from United States Department of Agriculture, Economic Research Service Abstract: Excerpts from the report Summary: The United States provides an outstanding example of what an efficient agriculture can do for the economic growth of a country. An examination of our economic history reveals seven contributions of major importance: The release of workers to industry; lowering of food costs relative to income; an expanding market for industrial goods; large earnings from exports of farm products; sustained output during economic depressions; the meeting of wartime demands for food and fiber; and assistance to the economic development of other countries. American agriculture has made a massive contribution in the past to the economic development of the United States. But what is to be its future role? Though its most dramatic contributions have been made, it will continue to play a significant role in domestic economic growth. It will continue to supply an abundance of food at prices that are low in relation to the prices of other goods and services; it will continue to be an important source of manpower for nonagricultural enterprises; and it will release land for other uses in the economy. Keywords: Agricultural and Food Policy; International Development; Labor and Human Capital; Production Economics (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:ags:uerser:307183 Access Statistics for this paper More papers in Agricultural Economic Reports from United States Department of Agriculture, Economic Research Service Contact information at EDIRC. |
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