Land, Economic Change, and Agricultural Economics

Abstract

This paper analyzes in three contexts the effects of changing economic conditions and varying economic perspectives on the way land is considered in economic doctrine. The first considers agricultural land use where agriculture is connected to the rest of the economy exclusively through input and commodity markets, and when all other parts of the economy are assumed to remain constant. The second connects agriculture to the remainder of the economy by virtue of a shared natural environment, facilitating a discussion of natural resource and environmental economics in relation to agricultural, institutional, and land economics. The third context permits economic change in the entire economy with particular attention given to population density, space, and distance. Private and public decision making are discussed with attention to federal, state, and local division of powers.