Question

Do you agree with the logic behind the Agricultural Adjustment Act (1933)? In other words, if...

Do you agree with the logic behind the Agricultural Adjustment Act (1933)? In other words, if you were a farmer, would you have been able to either plow under your cotton or destroy your livestock? Why or why not??

Homework Answers

Answer #1

Under this act the farmers of the country are paid because of not producing crops and not increasing livestock in excess of certain limit.

The act is actually created to help farmers since they are witnessed of falling market prices of these products, which were making them huge losses. This is because of the act, such prices could be increased.

This is not logically acceptable because of the following reasons:

1) It may give benefit in the short-run, but not in the long-run. This is a perfectly competitive market and a firm could survive in the long-run if it has the minimum average cost, which could only be possible if the production is done in the large-scale.

2) Firms have no control on the production of livestock. Animals breed as per their normal ability and destroying the excess may create additional cost; this is also unethical and against the morality.

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