The political economy of our arable and grassland production
The level of production from arable land and grassland is determined by the volume of labour and capital invested in the available agricultural land to exploit current technology. The levels of investment are influenced in turn by the levels of market prices and other institutional arrangements determined, inter alia , by the political economy of the common agricultural policy of the European Economic Community (E.E.C.) and of the individual policies of the Member States. The level of production in the United Kingdom will be influenced increasingly by the competitive strength of British agriculture within the E.E.C. as commodity price levels are gradually harmonized. The balance of arable and grassland production will, similarly, be determined by the relative advantages enjoyed by British farmers due to climatic, technological and institutional differences compared with E.E.C. competitors. The speed of development and application of new science and technology will thus be a major determinant of the level and efficiency of British agriculture during the next decade. This is the responsibility and the challenge which has to be accepted by those responsible for national research, development and advisory activities.