Abstract
Attaining and maintaining an economic balance between industry and agriculture is an important, unsettled policy issue. How to do it is not obvious. Seeing what governments do, it could be argued that they are adept at producing such imbalances. We know that many governments pursue policies that distort product and factor values by various means and thereby induce economic imbalances. In low income countries, governments tend to specialise in policies that keep agricultural production down; in high income countries governments do the exact opposite. Nevertheless, while governments are not blameless, it would be a serious error to attribute all imbalances between industry and agriculture to what governments do.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
References
Boyce, J. K. and Evenson, R. E. (1975) National and International Agricultural Research and Extension Programs (New York: Agricultural Development Council).
Brooks, J. (1985) When Russia Learned to Read: Literacy and Popular Literature: 1861–1917 (Princeton, NJ: Princeton University Press).
Dalrymple, D. G. (1986) Development and Spread of High-Yielding Wheat Varieties in Developing Countries (Washington, DC: Bureau of Science and Technology, Agency for International Development).
Evenson, R. E. and Kislev, Y. (1975) ‘Investment in Agricultural Research and Extension: A Survey of International Data’, Economic Development and Cultural Change, vol. 23 (April), pp. 507–21.
Griliches, Z. (1960) ‘Hybrid Corn and the Economics of Innovation’, Science, vol. 132, no. 3422, (29 July), pp. 275–80.
Griliches, Z. (1964) ‘Research Expenditures, Education, and the Aggregate Agricultural Production Functions’, American Economic Review, vol. 54 (December), pp. 961–74.
Harrod, R. F. (1948) Towards a Dynamic Economics (London: Macmillan).
Hicks, J. (1965) Capital and Growth (Oxford: Oxford University Press).
Judd, M. A., Boyce, J. K. and Evenson, R. E. (1986) ‘Investing in Agriculture Supply’, Economic Development and Cultural Change, vol. 35, October, pp. 77–113.
Kuznets, S. (1966) Modern Economic Growth (New Haven: Yale University Press)
Lin, J. (1986) ‘The Household Responsibility System in China’s Agricultural Reform: A Study of the Causes and Effects of an Institutional Change’, PhD dissertation, University of Chicago (April).
Ram, R. and Schultz, T. W. (1979) ‘Life Span, Health, Savings and Productivity’, Economic Development and Cultural Change, vol. 27 (April), pp. 399–421.
Rosen, S. (1983) ‘Specialization and Human Capital’, Journal of Labor Economics, vol. 1, pp. 43–9.
Ruttan, V. W. (1982) Agricultural Research Policy (Minneapolis: University of Minnesota Press) ch. 8, table 8.1.
Schultz, T. W. (1945) Agriculture in an Unstable Economy (New York: McGraw-Hill).
Schultz, T. W. (1951) ‘The Declining Economic Importance of Agricultural Land’ Economic Journal, vol. 61 (December), pp. 725–40.
Schultz, T. W. (1953) The Economic Organization of Agriculture (New York: McGraw-Hill).
Schultz, T. W. (1975) ‘The Value of the Ability to Deal with Disequilibria’, The Journal of Economic Literature, vol. XIII, no. 3, September, pp. 827–46.
Schultz, T. W. (1980a) ‘The Economics of the Value of Human Time’, Investing in People (Berkeley: University of California Press) ch. 4, pp. 59–84.
Schultz, T. W. (1980b) ‘Investment in Population Quality’, Investing in People (Berkeley: University of California Press) ch. 2.
Schultz, T. W. (1986) ‘Investing in People: Schooling in Low Income Countries’, presented at World Bank’s Education Staff Retreat (10 January).
US Department of Commerce, Bureau of the Census (1975) Historical Statistics of the United States, part I, table series C76-80, ‘Estimated Annual Movement of the Farm Population: 1920–1970’ (Washington, DC) p. 96.
Usher, D. (1978) ‘An Imputation to the Measure of Economic Growth for Changes in Life Expectancy’ in Moss, M. (ed.) The Measurement of Economic and Social Performances (New York: National Bureau of Economic Research) pp. 193–226.
World Bank (1986) World Development Report 1986 (New York: Oxford University Press for the World Bank).
Author information
Authors and Affiliations
Editor information
Editors and Affiliations
Copyright information
© 1988 International Economic Association
About this chapter
Cite this chapter
Schultz, T.W. (1988). Dealing with Economic Imbalances between Industry and Agriculture. In: Arrow, K.J. (eds) The Balance between Industry and Agriculture in Economic Development. International Economic Association Series. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-10271-6_3
Download citation
DOI: https://doi.org/10.1007/978-1-349-10271-6_3
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-10273-0
Online ISBN: 978-1-349-10271-6
eBook Packages: Palgrave Economics & Finance CollectionEconomics and Finance (R0)