Reform of the Common Agricultural Policy has entailed the substitution of new income support instruments for the former price based instruments, mainly in the cash crop sector. Our first point is that the domestic political balance was unable to generate such a large change in policy design, in...

The final objective of government intervention is the attainment of the 'common good' for society as a whole. Government are supposed to intervene in market economies mainly in order to offset market failures. However governments themselves often fail to maximise the common good, especially when...

The reform of the Common Agricultural Policy (CAP) adopted on 21 May 1992, to be implemented by 1996, anticipates some essential features of the 1994 Uruguay GATT Agreement to be implemented between 1995 and 2000. Together these two events will change substantially, and sometimes reverse, the...