ABSTRACT
As agricultural policy evolved over time, advocates for programs and missions expanded, including providing environmental protection, food safety, rural infrastructure development, risk management, consumer protection, and social equity. By the arguments presented for government intervention in agriculture, the market sometimes fails. Arguments have been posed for and against government intervention on the grounds that economic efficiency is either enhanced or hindered. An economic justification given for government interference with the operation of the market is the correction of market failure. In agriculture, a total failure of supply, or even low supply leading to high consumer prices, can lead, and has led, to social unrest. Black Swan events such as hurricanes, Pearl Harbor, disease outbreaks, and other unexpected events can, as the year 2020 shows, significantly impact both supply and demand. In reality, farm bills cover farm supports, but also involve conservation, food and nutrition, and a wide variety of other agricultural and rural-related economic and social issues.
