CC96-396 Productcion Flexibility Contracts: Provisions, Implications and the Participation Decision

The Federal Agriculture Improvement and Reform (FAIR) Act of 1996 (P.L. 104-127) was signed into law by President Clinton on April 4, 1996. Most provisions of the new law, including the commodity provisions, will be effective for seven years, 1996-2002. Unlike previous farm bills, provisions relating to commodity supports are grouped together under what is known as the Agricultural Market Transition Act (AMTA) program. Producers of seven commodities: corn, sorghum, barley, oats, wheat, rice and cotton must sign Productive Flexibility Contracts (PFCs) to participate in the AMTA. These seven commodities are referred to as "contract commodities." This publication focuses on the PFCs, beginning with an overview of contract provisions. Potential short- and long-run implications of PFCs are then discussed.

EMERSON AS A ROMANTICIST

It was the romanticists who tended to write poetry of “autobiography,” who inquired of themselves concerning themselves, and assumed that the world was interested in what they found. Nor was the habit of self-consciousness regarding the poetic office let drop by their successors. That the words poet and poetry were so often on Emerson’s lips would be evidence enough to students of literature, in its changing temper and shifting modes, of his probable localization in time. It is also evidence of his relation to certain European movements of thought to which he gave—comparatively late in their currency and much tempered —American expression. In his doctrine of the superiority and the aloofness of the poet, of the latter’s severance from others to whom he yet bears messages of light, in his self-sufficiency and his sovereignty, his belief in the intrinsic goodness of nature and of man, and his concern with poetic thought rather than poetic form, Emerson may be termed the American representative of ideas which already had had wide circulation in Europe. In great part they emanated from Rousseau, and some of them, especially the gospel of the rights and the supremacy of the individual, had metamorphosed the politics and the map of Europe as well as its literature.