Surplus... The Riddle of American Agriculture

john steinbeck: friend of the american common man

in his last years of life americans had almost forgotton steinbeck, and those who had not, occasionally criticized him for supporting and praising the u. s. military intervention in the vietnam war. althought ateinbeck incorporates different themes into his works, each one bears many signs of his concern and sympathy for america and the american common people in particular. steinbecks to a god ...

Energy Use in American Agriculture

Regional Development in American Agriculture ∗

This paper uses the establishment of federal agricultural experiment stations to provide new evidence on the effects of university research on long-term regional development. Our analysis of county-level agricultural census data from 1870 to 2000 reveals that station establishment increased local crop revenue per acre for 30-40 years, but localization effects do not persist to the present day. ...

Solution to “the Kuznets Riddle”

S. Kuznets's study that the average propensity to consume is a constant value were nexpected because they denied one of the basic provisions of the Keynesian theory. This fact was called "the riddle of Kuznets".  F. Modigliani and M. Friedman, using the hypothesis of the life cycle and the concept of constant income, proposed two options that explain its solution. But models should not explain,...

The Role of Agriculture in Economic Development: Visible and Invisible Surplus Transfers

The financial surplus of agriculture has been central to theories of the role of agriculture in economic development. Morrisson and Thorbecke (MT) have used a constant-price social accounting matrix (SAM) framework to rigorously measure the financial surplus of agriculture and decompose the mechanisms of surplus extraction. History and theory have, however, stressed the role of prices as an inv...