This book explores the policy implications of growing pressures for economic adjustment in the agricultural sectors of developed countries. The primary focus is on Europe and North America, but adjustment policies in other developed countries are discussed. Some chapters are based on an international workshop at Imperial College, London in October 2003, and an international symposium in Philadelphia in the spring of 2004.

Most of the written material on the Common Agricultural Policy (CAP) is about the details of the day. This work offers an understanding of why the policies are as they are, how they attempt to tackle the problems faced in the European Union and the degree of success they achieve, and the prospects for change.

The Common Agricultural Policy (CAP) has been supporting the incomes of the European Union's agricultural community for half a century. Despite this, there is still no official system in place to track the economic wellbeing of farmers and their families. This book examines the evidence on the overall wealth of farming households, and concludes that in nearly all member states, they are not generally a poor sector of society, with disposable incomes that are similar to, or exceed, the national average. In this updated edition, the author discusses the latest evidence, makes recommendations...