ABSTRACT
Agricultural protectionism and the Common Agricultural Policy (CAP) of the European Community are synonymous to many observers. The CAP is characterized by high price support for most agricultural products; a nearly watertight separation of domestic agricultural markets in the European Community (EC) from developments in world markets; high levels of public expenditure for agriculture, both at the community level and at the level of the individual member countries; and the preservation of an outdated farm size structure.
