TY - BOOK ID - 84657351 TI - The Common Agricultural Policy of the European Community : Principles and Consequences: Occa Paper No.62. PY - 1988 SN - 1455269425 1455259330 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Agriculture and state KW - Investments: Commodities KW - Exports and Imports KW - Macroeconomics KW - Money and Monetary Policy KW - Agribusiness KW - Inflation KW - Agriculture: General KW - Trade: General KW - Price Level KW - Deflation KW - Commodity Markets KW - Agricultural Policy KW - Food Policy KW - Aggregate Factor Income Distribution KW - Investment & securities KW - Agricultural economics KW - International economics KW - Agricultural law KW - Agricultural commodities KW - Agricultural sector KW - Price incentives KW - Agricultural policy KW - Commodities KW - Economic sectors KW - Prices KW - Income KW - National accounts KW - Farm produce KW - Agricultural industries KW - Commercial products KW - Germany UR - https://www.unicat.be/uniCat?func=search&query=sysid:84657351 AB - This chapter discusses principles and consequences of the common agricultural policy (CAP) of the European Community (EC). It shows that agricultural pricing policies aimed at supporting farm incomes were already in place in EC member countries before the inception of the CAP; indeed, in the presence of these policies, the CAP was a logical consequence of the extension of the common market to the agricultural sector. Thus, the flaws of the CAP can be traced back to national policies and attitudes toward agriculture. Recognition of the burden of agricultural support on the rest of the economy, as well as the growing budgetary costs, has elicited a greater public interest in the CAP. Equally, the trade frictions caused by export subsidies have underlined the CAP's international implications. For these reasons, the member states appear more determined than hitherto to bring agricultural expenditure under control. Given the wider effects of the CAP both on EC economies and the international community, it is to be hoped that current efforts at reform will be successful. ER -