Alternative futures in U.S. farm size structure, productivity, exports and income: a simulation

Abstract

<p>American farming has undergone many changes in its structure and composition over the last three decades. During much of this period the supply of farm products was large, causing depressed farm prices and income. The quantity and mix of different inputs changed as new technologies were made available to and were adopted by farmers. Relative prices and technologies favorable to capital use caused increased production, low prices, low farm incomes, and hence a reduction in the farn population during much of the period.</p>