"Current Issues in Global Agricultural and Trade Policy presents an authoritative perspective on matters that will contribute to the future shape of global markets for agricultural products. Written by a rare grouping of eminent and globally leading agricultural economists from a wide variety of...

This chapter assesses the political economy of the 2014 farm bill, which eliminated annual fixed direct payments but offers enhanced downside risk protection against low prices or declining revenue. The farm bill secured substantial bipartisan majorities in a politically contentious Congress....