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The World Food Economy / Edition 2

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The World Food Economy, 2nd Edition continues to provide a broad introduction to the economics of food and agriculture. As consumers and producers continue to feel the effects of expanded global commodity trade, food aide, and national legislation in response to globalisation, this text assesses the challenges of satisfying food demand in both rich and poor countries alike. This second edition includes a new chapter devoted to biofuel developments and the price of energy in the United States and other nations. Other revised topics which the authors have paid specific attention to include price-trends and new research about trade restrictions and policy-induced distortions in prices. Each chapter addresses economic and demographic trends, patterns of agricultural development, food consumption, and key food issues while comparing and contrasting economics amongst countries. This regional focus ensures that the information presented throughout The World Food Economy is relevant and current for students.

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Editorial Reviews

From the Publisher
The World Food Economy is an excellent book written by three well-known authors. This is a brilliant exposition of various dimensions of the world food problem. It is grounded in economic theory but written so that it is easily understood by people without a background in economics.”
Andrew Schmitz, University of Florida

“This book is a must-read for those who wish to understand the world food economy, a contribution both to the layman’s understanding and to the science.”
Barry L. Flinchbaugh, Kansas State University

“An excellent undergraduate textbook … .structured clearly … .Very well written. I am convinced this book will be very popular with students and instructors alike.”
European Review of Agricultural Economics

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Product Details

  • ISBN-13: 9780470593622
  • Publisher: Wiley, John & Sons, Incorporated
  • Publication date: 11/15/2010
  • Edition description: New Edition
  • Edition number: 2
  • Pages: 452
  • Sales rank: 634,117
  • Product dimensions: 5.90 (w) x 8.90 (h) x 0.70 (d)

Meet the Author

Douglas Southgate is Professor of Natural Resource Economics in the Agricultural, Environmental, and Development Economics Department at Ohio State University. A natural resource economist by training, his previous books include Economic Progress and the Environment and Tropical Forest Conservation.

Douglas H. Graham is Professor Emeritus of Rural Finance in the Agricultural, Environmental, and Development Economics Department at Ohio State University.

Luther Tweeten is Emeritus Anderson Professor of Agricultural Marketing, Trade, and Policy in the Agriculture, Environmental, and Development Economics Department at Ohio State University. He is the author or co-author of over 500 journal articles and seven books, including Foundations of Farm Policy and Agricultural Trade: Principles and Policies.

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Table of Contents

Preface to the Second Edition.


1 Introduction.

1.1 Our Focus.

1.2 Chapter Outline.

Key Words and Terms.

Study Questions

2 The Demand Side: How Population Growth and Higher Incomes Affect Food Consumption.

2.1 Classic Malthusianism, Its Modern Variants, and Its Critiques.

2.2 Demographic Transition.

2.3 Trends in Human Numbers, Past and Present.

2.4 Food Consumption and Income.

2.5 Demand Trends and Projections.

2.6 Summary and Conclusions.

Key Words and Terms.

Study Questions.

Appendix: The Fundamental Economics of Demand.

3 The Supply Side: Agricultural Production and Its Determinants.

3.1 The Nature of Agriculture.

3.2 Increases in Agricultural Supply.

3.3 Has Intensification Run Its Course?

3.4 The Food Economy Beyond the Farm Gate.

3.5 Trends in Per Capita Production.

Key Words and Terms.

Study Questions.

Appendix: The Fundamental Economics of Supply.

4 Aligning the Consumption and Production of Food over Time.

4.1 The Desirability of Competitive Equilibrium.

4.2 Public Policy and Markets for Farm Products.

4.3 Historical Trends in the Scarcity of Agricultural Products.

4.4 Outlook for the Twenty-First Century.

Key Words and Terms.

Study Questions.

Appendix: The Coordination of Decentralized Decision Making.

5 Agriculture and the Environment.

5.1 Diagnosing and Correcting Environmental Market Failure.

5.2 Agriculture and Climate Change.

5.3 Farmland Degradation.

5.4 Agriculture and Deforestation.

5.5 Agricultural Development and the Environment.

Key Words and Terms.

Study Questions.

Appendix: Market Failure and Its Remedies.

6 Globalization and Agriculture.

6.1 The Theory of Comparative Advantage.

6.2 Trade Distortions and the Economic Impacts.

6.3 The Debate over Globalization.

6.4 Potential Gains from Agricultural Trade Liberalization.

6.5 Multilateral Trade Negotiations and Agriculture.

6.6 The Case for Free Trade Still Stands.

Key Words and Terms.

Study Questions.

Appendix: Two-Country Illustrations of Comparative Advantage.

7 Agriculture and Economic Development.

7.1 Economic Expansion and Structural Transformation.

7.2 Agriculture's Role in Economic Development.

7.3 Trying to Develop at Agriculture's Expense.

7.4 Agricultural Development for the Sake of Economic Growth and Diversification.

7.5 Summary and Conclusions.

Key Words and Terms.

Study Questions.

8 Striving for Food Security.

8.1 Who and Where Are the Food-Insecure?

8.2 Achieving Food Security.

8.3 The Food Security Synthesis and Economic Development.

8.4 The Standard Model and Communitarian Values.

Key Words and Terms.

Study Questions.

9 Inter-Regional Differences and Similarities.

9.1 Economic Growth and Income Distribution.

9.2 Population Dynamics.

9.3 Agriculture's Response to Demand Growth.

9.4 Summary.

Key Words and Terms.

Study Questions.

10 Affluent Nations.

10.1 Standards of Living.

10.2 Population Dynamics.

10.3 The Food Economy.

10.4 Dietary Change and Consumption Trends.

10.5 Summary.

Key Words and Terms.

Study Questions.

11 Asia.

11.1 Trends in GDP per Capita.

11.2 Population Dynamics.

11.3 Agricultural Development.

11.4 Dietary Change, Consumption Trends, and Food Security.

11.5 Summary.

Key Words and Terms.

Study Questions.

12 Latin America and the Caribbean.

12.1 Trends in GDP per Capita.

12.2 Population Dynamics.

12.3 Agricultural Development.

12.4 Dietary Change, Consumption Trends, and Food Security.

12.5 Summary.

Key Words and Terms.

Study Questions.

13 The Middle East and North Africa.

13.1 Political Realities and Economic Trends.

13.2 Population Dynamics.

13.3 Agricultural Development.

13.4 Dietary Change, Consumption Trends, and Food Security.

13.5 Summary.

Key Words and Terms.

Study Questions.

14 Eastern Europe and the Former Soviet Union.

14.1 Economic Trends since the Fall of Communism.

14.2 Demographic Trends.

14.3 The Agricultural Sector.

14.4 Dietary Change, Consumption Trends, and Food Security.

14.5 Summary.

Key Words and Terms.

Study Questions.

15 Sub-Saharan Africa.

15.1 Trends in GDP per Capita.

15.2 Demographic Trends.

15.3 Agricultural Development.

15.4 Consumption Trends and Food Security.

15.5 Summary.

Key Words and Terms.

Study Questions.

16 The Global Food Economy in the Twenty-First Century.

16.1 Victims of Our Own Success?

16.2 The New Food Economy.

16.3 The Changing Role of Government.

16.4 Back to the Future Food Economy?

Key Words and Terms.

Study Questions.

Abbreviations and Acronyms.

Map Annex.



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