Miller Magazine Issue:114 June 2019

Agricultural productivity The U.S. is one of the leading countries of agriculture in the world. The U.S. is a key player in the production and export of many basic pro- ducts, especially cereals. US-based international companies dominate the agricultural and agro-industrial products market. However, there are some indications that the US may lose this dominance. In this respect, there are some important findings in a comprehensive analysis by a re- search group led by Matthew Andersen of the University of Wyoming. The research, titled “A Century of U.S. Farm Productivity Growth: A Surge Then a Slowdown”, answers this question: Have U.S. farms exhi- bited slower rates of productivity growth in recent decades? The resear- ch team conducted a series of statistical procedures and tests designed to investigate the nature of changes in the rate of productivity growth over many decades. The consequences provide strong confirmation that productivity in U.S. agriculture has recently experienced a structural slowdown. According to research over the final 10 to 20 years in the researchers’ dataset, productivity grew at only half the rate that had been sustained for much of the 20th century. The researchers say that the relatively fast rates of productivity growth experienced during the 1960s, 1970s and 1980s can be construed as aberrations. The researchers suggest that the slowdown in agricultural productivity might be related to an earlier slowdown in the growth of spending on agricultural research and development. They warn that failure to im- prove growth in U.S. agricultural productivity over the coming decades could carry serious outcomes. Without renewed productivity growth, natural resource stocks will be exhausted faster, less agricultural crop will be produced and food will be more expensive than would have been the case with higher rates of productivity growth. The U.S. agri- cultural sector might suffer from diminished competitiveness with other countries. editor Namık Kemal PARLAK company/miller-magazine millermagazine MillerMagazine Parantez Publishing and Congress Ltd. Gökevler Mah. 2312 Sok. No:16/37 Ginza Corner Plaza, Esenyurt / İstanbul - TURKEY T. +90 212 347 31 64 F. +90 212 212 02 04 www.millermagazine.com info@millermagazine.com On Behalf of Parantez Publishing and Congress Ltd., Owner Zübeyde Kavraz Responsible Manager Muhammed Akatay Editor-in-Chief Namık Kemal Parlak Editors Mustafa Yağmurlu Cemalettin Kanaş Sales and Marketing Özlem Buyruk Inji Aydash Burcu Çetin İlknur Durmaz Art Director and Visual Design Alparslan Murat Aysu Corporate Communication Executive Derya Gülsoy Yıldız Legal Advisor Ayşe Özlem Bulgu ayseozlembulgu@istanbulbarosu.org.tr Consultancy Board Derviş Toprak Ergin Ünver Mehmet Şerif Gültay Zafer Ergezen Referee and Scientific Advisory Board Prof.Dr. Mustafa Bayram Prof. Gustavo Sosa Prof.Dr. Hazım Özkaya Asst. Prof. M. Kürşat Demir Asst. Prof. Halef Dizlek Asst. Prof. Harun Dıraman Asst. Prof. Mustafa Erbaş Publication Type - Periodic (Monthly) Printing Maviay Ofset Etiket Matbaa San. ve Tic. Ltd. Şti. Litrosyolu 2. Matb. Sit. No: 1BF2 Topkapı / İSTANBUL Tel: 0212 613 47 65 All copyrights belong to Parantez Publishing. © May not be used without permission. Responsibility of the ads belongs to the advertisers. ISSN 1309-6125 Copyright Page