ABSTRACT
This chapter reviews the sweeping changes which have occurred in US agriculture and broadly summarizes the food system’s supply, demand, and income conditions which followed legislation. Agricultural and food policy in its broadest sense has been around since the beginning of the nation. The exodus of farm workers and the reduction in agricultural input production and product processing on the farm has resulted in major changes in the structure of agriculture. Use of nitrogen fertilizer and agricultural chemicals held about constant between the two periods but, with fewer acres harvested the application rate per acre increased. Although the supply-demand balance may tighten somewhat, the agricultural sector is likely to face continued excess capacity and declining real prices and incomes. The prospect of an export-led rejuvenation of agriculture to free market prosperity through the lower loan rates and export subsidies of the 1985 act was embarrassingly oversold.
