The Role of Markets in the World Food Economy (Paperback)

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This book extends the discussion of world food problems by giving explicit recognition to the potential role of markets. The authors highlight the contribution of prices to the solution of food problems in low-income countries, for example, by providing adequate incentives to farmers to expand production, assuring that food supplies can be obtained through trade when needed and giving appropriate signals to consumers. They also document the negative effects on food supply and national welfare of the actual price policies of many Third World governments. While recognizing the problems involved in defining and measuring hunger, as well as in improving the food supply, the authors consider the outlook for future food availability as favorable in terms of continued modest improvement in per capita food supplies at prices, adjusted for inflation, that are likely to continue the slow decline of recent decades. One focus of their comments is the positive roles that governments can and should play in the world food economy, especially in support of research, creation of human capital, and provision of appropriate rural infrastructure.

About the Author

D. Gale Johnson is professor and chairman of the Department of Economics at The University of Chicago. G. Edward Schuh is professor and chairman of the Department of Agriculture and Applied Economics at the University of Minnesota, St. Paul.

Product Details
ISBN: 9780367311100
ISBN-10: 0367311100
Publisher: CRC Press
Publication Date: May 31st, 2021
Pages: 326
Language: English