New Data from University of York Illuminate Findings in Crop Insurance (Crop Insurance and the New Deal Roots of Agricultural Financialization In the United States)

2020 OCT 27 (NewsRx) -- By a News Reporter-Staff News Editor at Insurance Daily News -- Fresh data on Agriculture - Crop Insurance are presented in a new report. According to news reporting out of York, United Kingdom, by NewsRx editors, the research stated, “A range of private and public institutions emerged in the United States in the years before and after the Great Depression to help farmers confront the inherent uncertainty of agricultural production and marketing. This included a government-owned and operated insurance enterprise offering ‘all-risk’ coverage to American farmers beginning in 1938.”

Our news journalists obtained a quote from the research from the University of York, “Crop insurance, initially developed as a social insurance program, was beset by pervasive problems of adverse selection and moral hazard. As managers and policy makers responded to those problems from the 1940s on, they reshaped federal crop insurance in ways that increasingly made the scheme a lever of financialization, a means of disciplining individual farmers to think of farming in abstract terms of risk management.”

According to the news editors, the research concluded: “Crop insurance became intertwined with important changes in the economic context of agriculture by the 1960s, including the emergence of the ‘technological treadmill,’ permanently embedding financialized risk management into the political economy of American agriculture.”

This research has been peer-reviewed.

For more information on this research see: Crop Insurance and the New Deal Roots of Agricultural Financialization In the United States. Enterprise & Society, 2020;21(3):648-680. Enterprise & Society can be contacted at: Cambridge Univ Press, Edinburgh Bldg, Shaftesbury Rd, CB2 8RU Cambridge, England.

Our news journalists report that additional information may be obtained by contacting Shane Hamilton, University of York, York Management Sch, Management, York, North Yorkshire, United Kingdom.

The direct object identifier (DOI) for that additional information is: https://doi.org/10.1017/eso.2019.43. This DOI is a link to an online electronic document that is either free or for purchase, and can be your direct source for a journal article and its citation.

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