Common agricultural policy
DOI link for Common agricultural policy
Common agricultural policy book
During the past decades agriculture has been a statistically shrinking economic sector in the developed market economies. The share of agriculture in the GNP of the EU was 3 per cent, while its share in the region’s employment was less than 6 per cent1 in 1994. Agriculture was employing around 20 million people at the time of the creation of the EU. More than three decades later, the number of people directly employed in agriculture was a little over 8.5 million. If one adds the dependent family members to those that work in the farm sector, the number relying on this sector for their livelihood is around 40 million people. Apart from the customs union, the Common Agricultural Policy (CAP) is often described as the genuine economic policy of the EU, as well as one of its greatest achievements in economic integration-and, perplexingly, as its weakest link!