This book presents the proceedings of a conference held near Washington, DC (Airlie, Virginia) to discuss the need for innovative new approaches to rural policy. U.S. Federal Reserve Chairman Alan Greenspan opened the conference by stressing the crucial importance of flexibility in enhancing...

Various risks affect the income and the welfare of farm households. A large number of strategies are available to deal specifically with income risk. They exist against a general background of widespread government intervention that modifies the risks faced by farmers. In the context of...