While the recent commodity price crisis brings questions regarding the general developement path of the CAP since 1992, this paper envisages returning to Rooseveltian recipes, after modernization.

Agricultural price volatility is "bad". But where does it come from? Remedies are completely different for "endogenous" or "exogenous" fluctuations. The recent crisis seems to indicate that exogenous remedies have been applied to endogenous fluctuations.