Hostname: page-component-78c5997874-8bhkd Total loading time: 0 Render date: 2024-11-13T06:51:31.575Z Has data issue: false hasContentIssue false
  • English
  • Français

“Economic Correctness” and Agricultural Economics

Published online by Cambridge University Press:  28 April 2015

Ralph D. Christy
Ralph D. Christy*
Affiliation:
Department of agricultural economics, Cornell University, Ithaca, New York
Get access Rights & Permissions [Opens in a new window]

Abstract

This address is directed toward applied economists as they provide information to private and public decision makers. Central to this discussion is the role of markets as institutions in achieving society's desired ends. Current “economic correctness”–the view that unfettered markets are superior in achieving efficiency, growth, and welfare-has attempted to return a larger role to the private sector, but the relative roles of market-oriented versus government-oriented solutions to problems are often not well appraised. Views presented herein calls for agricultural economists to move simultaneously toward an understanding of the strategic behavior of firms in imperfectly competitive markets and toward an adoption of policy analysis consistent with a socially complex and globally integrated economy.

Keywords

marketpolicy analysisstrategic behavior
Type
Presidential Address
Information
Journal of Agricultural and Applied Economics , Volume 25 , Issue 1 , July 1993 , pp. 1 - 13
Copyright
Copyright © Southern Agricultural Economics Association 1993

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

Allen, Joyce E. and Christy, Ralph D.. “African Americans in Rural Society: Needed Directions in Public Policy.” Amer. J. Agr. Econ. 74.3(1992):826–33.CrossRefGoogle Scholar
Bain, J. S.Industrial Organization. 2nd Ed., New York: Wiley, 1968.Google Scholar
Bonnen, James T. “Relevancy of the Social Sciences in the Policy Arena: Implications for Agricultural Economics.” S.J. Agr. Econ. 21.1(1989):41–50.Google Scholar
Bromley, Daniel W.Environment and Economy: Property Rights and Public Policy. Cambridge: Basil Blackwell, 1991.Google Scholar
Carlton, D. W. and Perloff, J. M.. Modern Industrial Organization. Glenview, IL: Scott, Foresman and Co., 1990.Google Scholar
Cournot, A.Research into the Mathematical Principles of the Theory of Wealth. Translated by Nathaneil Bacon from the French edition of 1838. New York: Macmillan, 1897.Google Scholar
Cyert, R. M. and March, J. G.A Behavioral Theory of the Firm. Englewood Cliffs, NJ: Prentice-Hall, 1963.Google Scholar
Experiment Station Committee on Organization and Policy, Planning and Budget Subcommittee. Research Agenda for the 1990s: A Strategic Plan for the State Agricultural Experiment Stations. ESCOP 90-1, 1990.Google Scholar
Farris, Paul L. “Agricultural Market Research in Perspective,” Future Frontiers in Agricultural Marketing Research. Ames, Iowa: Iowa State University Press, 1983. p. 3–15.Google Scholar
Houck, James. “The Comparative Advantage of Agricultural Economists,” Amer. J. Agr. Econ. 74.5(1992):1059-65.CrossRefGoogle Scholar
Johnson, Glenn L. and Bonnen, James T., eds. Social Science Agricultural Agendas and Strategies. East Lansing, MI: Michigan State University Press, 1991.Google Scholar
Kay, John A. “Economics and Business.” Econ. J., 101.404(1991):57–63.Google Scholar
King, Martin L. Jr. “How Should a Christian View Communism,” Strength to Love. Philadelphia: Fortress Press, 1963.Google Scholar
Kotier, Philip.Market Management. Englewood Cliffs, NJ: Prentice Hall, 1991.Google Scholar
Kotier, Philip and Fox, Karen F. A.. Strategic Marketing for Educational Institutions. Englewood Cliffs, NJ: Prentice-Hall, 1985.Google Scholar
Lang, Mahlon G. “Economic Efficiency and Policy Comparisons,” Amer. J. Agr. Econ. 62.4(1980):772–77.CrossRefGoogle Scholar
Leibenstein, H. “A Branch of Economics is Missing: Micro-Micro Theory”, J. Econ. Lit., 17(1979):477–502.Google Scholar
Lipsey, R. G.Positive Economics, 6th ed. London: Weidenfield and Nicolson, 1983.Google Scholar
Marion, Bruce W.The Organization and Performance of the U.S. Food System. Lexington, MA: Lexington Books, 1986.Google Scholar
Masten, Scott E. “Transaction-Cost Economics and the Organization of Agricultural Transactions.” Examining the Economic Theory Base for Vertical Coordination, Symposium sponsored by NC-194 Symposium and Ohio State University, Chicago, IL, October 17-18, 1991.Google Scholar
National Commission on Food Marketing. “Food from Farmer to Consumer, and Ten Technical Studies,” Washington, DC: USGPO, 1966.Google Scholar
Nicholls, William.A Theoretical Analysis of Imperfect Competition with Special Application to Agricultural Industries. Ames, Iowa: Iowa State University Press, 1941.Google Scholar
Porter, Michael E.Competitive Strategy: Techniques for Analyzing Industries and Competitors, New York: The Free Press, 1980.Google Scholar
Porter, Michael E.Competitive Advantage: Creating and Sustaining Superior Performance, New York: The Free Press, 1985.Google Scholar
Rausser, Gordon C. “Political Economic Markets: Perts and Pests in Food and Agriculture,” Amer. J. Agr. Econ., 64.5(1982):821–33.CrossRefGoogle Scholar
Rogers, Richard T. and Caswell, Julie A.. “Strategic Management and the Internal Organization of Food Marketing Firms,” Agribusiness, 4.1(1988):3–10.3.0.CO;2-S>CrossRefGoogle Scholar
Scherer, F. M.Industrial Market Structure and Economic Performance. 2nd Ed., Chicago, IL: Rand McNally, 1980.Google Scholar
Shaffer, James D. AWorking Paper Concerning Publicly Supported Economic Research in Agricultural Marketing. USDA, ERS, 1967.Google Scholar
Shaffer, James D. “Does the Concept of Economic Efficiency Meet the Standards for Truth in Labeling When Used as a Norm in Policy Analysis?” Economic Efficiency in Agricultural and Food Marketing. Eds. Richard L. Kilmer and Walter Armbruster. Ames, IA: Iowa State University Press, 1987.Google Scholar
Sheperd, William G. “Publishing Performance in Industrial Organization: A Comment,” Rev. Indust. Organ., 5.1(1990): 137–46.Google Scholar
Stiglitz, Joseph E. “Another Century of Economic Science,” The Future of Economics. Cambridge, MA: Blackwell Publishers, 1992. pp. 134–141.Google Scholar
Thurow, Lester. C. “Agricultural Institutions and Arrangements Under Fire.” Social Science Agricultural Agenda Project. Eds Johnson, Glenn L. and Bonnen, James T.. East Lansing: Michigan State University Press, 1991.Google Scholar
USDA, Economic Research Service. Structure Issues of American Agriculture. Agricultural Economics Report No. 438, November 1979.Google Scholar
Westgren, R. E., Sonka, S. T., and Litzenberg, K. K.. “Strategic Issue Identification Among Agribusiness Firms,” Agribusiness, 4.1(1988):25–37.3.0.CO;2-1>CrossRefGoogle Scholar
Williamson, O. E.Markets and Hierarchies: Analysis and Anti-Trust Implications: A Study in the Economics of Internal Organization. New York: Free Press, 1975.Google Scholar
Williamson, O. E.The Economic Institutions of Capitalism: Firms, Markets, Relational Contracting. London: Macmillan, 1985.Google Scholar