Crop Boom Fails to Lift Rural Incomes, Exposing Limits of Agricultural Subsidies
Crop prices in the late 2000s had a positive impact on the rural economy in the U.S. Heartland. For every $1 increase in crop revenue, 64 cents were generated in personal income. Most of this income went to farm owners and workers, as well as nonfarmers who own farm assets. However, there was little effect on nonfarm income, employment, or population growth.