The future of the European Common Agricultural Policy : a new philosopy ?

On actual agricultural markets, price rarely equate marginal cost. Thus, agricultural policy should be focused on market failures, as was the 1960 CAP which, unfortunately, neglected supply management. Under certain conditions, a generalized “quota” system would in addition provide safer instruments for environmental policy.

Issue Date:
Dec 10 2007
Publication Type:
Conference Paper/ Presentation
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JEL Codes:
H1; Q1; E3.
While the recent commodity price crisis brings questions regarding the general developement path of the CAP since 1992, this paper envisages returning to Rooseveltian recipes, after modernization.
Presented at the policy workshop on: The role of agricultural and rural development in a changing international environment,” The Agricultural University of Athens Athens, Greece, Dec.10th, 2007

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