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Common Agricultural Policy

From The Hutchinson Unabridged Encyclopedia with Atlas and Weather Guide
System of financial support for farmers in European Union (EU) countries, a central aspect of which has been the guarantee of minimum prices for part of what they produce. The objectives of the CAP were outlined in the Treaties of Rome (1957): to increase agricultural productivity, to provide a fair standard of living for farmers and their employees, to stabilize markets, and to assure the availability of supply at a price that was reasonable to the consumer. The CAP has been criticized for its role in creating overproduction, and consequent environmental damage, and for the high price of food subsidies. History The policy, applying to most types of agricultural product, was evolved and introduced between 1962 and 1967, but has since been amended to take account of changing conditions and the entry of additional member states. At the heart of the CAP was a price support system based on setting a target price for a commodity, imposing a levy on cheaper imports, and intervening to buy…
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Full text Article Common Agricultural Policy

From The Hutchinson Unabridged Encyclopedia with Atlas and Weather Guide
System of financial support for farmers in European Union (EU) countries, a central aspect of which has been the guarantee of minimum prices for part of what they produce. The objectives of the CAP were outlined in the Treaties of Rome (1957): to increase agricultural productivity, to provide a fair…
| 480 words
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Full text Article Common Agricultural Policy

From The Princeton Encyclopedia of the World Economy
The Common Agricultural Policy (CAP) of the European Union (EU) is called “common” because the main agricultural policy decisions are made at the EU level, and these agricultural programs are financed for the most part from the EU’s common budget. The functioning of the agricultural sectors in the…
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Full text Article What is the Common Agricultural Policy?

From The Hutchinson Unabridged Encyclopedia with Atlas and Weather Guide
Background The European Union has had different names and different membership since its formation under the Treaty of Rome in 1957. It has been known as the EEC (European Economic Community), the EC (European Community), and, since 1993, the EU. The original six member states (France, Germany, the…
| 880 words
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Full text Article Common Agricultural Policy

From Routledge Dictionary of Economics
The major economic policy of the European union which by 2006 absorbed 48 per cent of the European budget and is projected to fall to 32 per cent by 2013. The principles of the policy were formulated at the Stresa Conference of 1958 and embodied in Articles 38 to 47 of the treaty of rome . It has…
| 427 words
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in the law of the European Union, one of the very foundations, being the legal regime supporting the coordination of agriculture in Europe. Although included in the Common Market, it was necessary to make special provision for agriculture because of the contradictory nature of the policies of some…
| 480 words
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Full text Article Common Agricultural Policy (CAP)

From Chambers Dictionary of World History
The most important of the common policies of the EC (European Community). Its basic principles are free trade for agricultural commodities within the Community, Community preference for domestic production, control of imports from the rest of the world, and common prices and subsidization. The main…
| 213 words
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Full text Article Common Agricultural Policy (CAP)

From Environmental History and Global Change: A Dictionary of Environmental History
A package of regulations adopted by member states of the EU (formerly EEC) providing a unified policy framework on agriculture with the aim of maximizing productivity, providing farmers with reasonable standards of living and offering acceptable prices to consumers. The aims and objectives of the…
| 291 words
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Full text Article Common Agricultural Policy (CAP)

From Collins Dictionary of Economics
the policy of the EUROPEAN UNION (EU) for assisting the farm sector. The main aims of the CAP are fair living standards for farmers and an improvement in agricultural efficiency (see AGRICULTURAL POLICY ). The CAP is administered by the European Agricultural Guidance and Guarantee Fund, with major…
| 527 words
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System of support for agriculture within the European Union (EU) . The Treaty of Rome created CAP in 1957. CAP was designed to increase food production within the EU, and to ensure a reasonable income for farmers. The EU set target prices for commodities. If prices fell below target, to a level…
| 168 words
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Full text Article Common Agricultural Policy (CAP)

From Palgrave Macmillan Dictionary of Political Thought
A protectionist policy to support agriculture (or at any rate agribusiness ) in the European Union . Established in 1958 by the Treaty of Rome it was for many years the only significant policy of the European Community, accounting for over two-thirds of the budget. The CAP has been welcomed as a way…
| 121 words
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