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...

Support of agriculture is justified, among others, by its contribution to rural economic development. Nevertheless, the relation between agricultural and general economic development may be ambiguous. On the one side, agriculture may affect other sectors positively via multiplier and income...