U.S. agriculture has faced severe downturns in the past, and the question arises: “Is today’s farm downturn different than farm downturns in the past?”
Yes, and no.
Blake Brown, Hugh C. Kiger professor emeritus of agricultural and resource economics at North Carolina State University, said agriculture has been on a continuum of change for a long time and past challenges still face agriculture. What’s different is that the policy environment today is much more volatile than 30 years ago…