Induced Product Innovation in the U.S. Dairy Industry

ISBN: 9783639072730

$73.64 $62.60

In the late 1990s and early 2000s, imports of milk
protein concentrate had brought the U.S. agricultural
programs to a crisis. The USDA was rapidly
accumulating stocks of nonfat dry milk and unable to
maintain the support prices to which it was
committed, the cornerstone of American dairy policy.
In this crisis can be seen many subtle and dynamic
phenomena that make the modern economy so
interesting, including how economic policy can induce
the creation of new products, the consequences of
mismatches between domestic and trade policy, and how
the regulatory structure can become both a barrier to
trade and an obstacle to innovation, all of which are
explored here. This book also provides an overview of
U.S. dairy policy, which consists not of a single
policy but of several interrelated policies, such as
the Federal and California Milk Marketing Orders, the
Milk Price Support Program, trade policy, federal
regulations, and international standards. These
policies are thoroughly discussed and incorporated
into an economic model of the U.S. dairy industry,
presented here in detail.

Induced Product Innovation in the U.S. Dairy Industry
Joseph Burke
VDM Verlag Dr. Müller
Published Date:
Paperback / softback
Product Dim.:
8.66 H x 5.91 W (inches)

Joseph Burke

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