| Abstract
| - Two large issues face American agriculture in the 21st century. Commodity policy has erred by placing excessive regulations on prices and production levels, creating rent-seeking opportunities for some farm producers. Escaping the lingering adverse consequences of these market regulations remains a challenge, both at home and abroad. A new challenge will be to avoid an onerous reregulation of agriculture according to production methods, creating new rent-seeking opportunities. Diverse farm enterprises can prosper in the future if informed consumer choice is preserved within free and competitive food markets, but finding a policy framework to foster this desirable multi-agriculturalism will prove daunting.
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