One does not read very far into Smith's work without encountering apparent inconsistencies. Perhaps the most troubling arise in the discussion of the corn trade, where, contrary to his well-known principle that trade protection and subsidies draw to the favored industry a greater share of the...

Die Weltagrarmärkte waren im letzten Jahr von stark steigenden Preisen geprägt. Wird diese Entwicklung durch fundamentale Faktoren gestützt oder handelt es sich um eine kurzfristige Erscheinung? Welche Rolle spielen dabei das Bevölkerungswachstum und die Steigerung der Pro-Kopf-Einkommen?...

Impacts of a Decoupling of Direct Payments on the EU Cereals Market: The proposals for reforming the Common Agricultural Policy within the Mid Term Review of the European Commission fueled the discussion about the future of direct payments to farmers. The EU Commission recommends a decoupling of...

This paper provides an overview of the most recent developments on Russian cereal markets. A review of annual statistics on domestic production, trade, consumption, and storage of cereals reveals that the improvement in Russia's net trade position cannot only be explained by increased...