what is agribusiness? how did agribusiness evolve?

Historically speaking, agriculture has been treated as a single, unified sector in which existing market mechanisms (most commonly government intervention) enabled the coordination of production and distribution. This approach failed to account for the activities engaged in by private entities, e.g. farmers or industries working with farmers. The common understanding of agriculture as a sector …

the origins and history of agribusiness

In 1957, John H. Davis and Ray A. Goldberg published A Concept of Agribusiness. Their pro-corporate stance argued that the private sector, rather than the government, should be responsible for the stabilization of the agricultural sector. They were of the opinion that flaws in the agricultural sector were perpetuated by New Deal policy, i.e. government intervention, …