Includes bibliographical references and index.

This book examines what is happening to American agriculture, and why. The author uses portfolio theory to analyze both macro- and microeconomic data that paints a clear picture of the trends in agriculture, and explains why these trends are consistent with market evolution and global economic development. He clarifies agriculture's specific role in economic development with a focus on the current and future globalizing commodity markets. The book features research that demonstrated the link between farm-level investment decisions and regional and national economic trends. It shows how the dynamic environment of industrialization and globalization of agriculture is part of a continuing development that is driven by technological innovation. The author foresees a future with a very different agricultural production sector and some extremely important policy choices that with face the entire country. BOOK COVER.

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