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![Page 1: Economic Institutions for Sustainable, Just and Efficient Food System Joshua Farley Community Development and Applied Economics Gund Institute for Ecological.](https://reader036.fdocuments.us/reader036/viewer/2022082610/56649dd95503460f94acf51c/html5/thumbnails/1.jpg)
Economic Institutions for Sustainable, Just and Efficient Food System
Joshua FarleyCommunity Development and Applied
EconomicsGund Institute for Ecological Economics
University of Vermont
![Page 2: Economic Institutions for Sustainable, Just and Efficient Food System Joshua Farley Community Development and Applied Economics Gund Institute for Ecological.](https://reader036.fdocuments.us/reader036/viewer/2022082610/56649dd95503460f94acf51c/html5/thumbnails/2.jpg)
Sustainability
• Dependence on non-renewables
• Need to feed growing population
![Page 3: Economic Institutions for Sustainable, Just and Efficient Food System Joshua Farley Community Development and Applied Economics Gund Institute for Ecological.](https://reader036.fdocuments.us/reader036/viewer/2022082610/56649dd95503460f94acf51c/html5/thumbnails/3.jpg)
Irreconcilable Tradeoffs
![Page 4: Economic Institutions for Sustainable, Just and Efficient Food System Joshua Farley Community Development and Applied Economics Gund Institute for Ecological.](https://reader036.fdocuments.us/reader036/viewer/2022082610/56649dd95503460f94acf51c/html5/thumbnails/4.jpg)
Justice
• Current distribution of wealth and income in historical perspective
• 2007 food crisis and access to food• Impacts of climate change on food production• Just deserts, procedural justice, just outcomes
![Page 5: Economic Institutions for Sustainable, Just and Efficient Food System Joshua Farley Community Development and Applied Economics Gund Institute for Ecological.](https://reader036.fdocuments.us/reader036/viewer/2022082610/56649dd95503460f94acf51c/html5/thumbnails/5.jpg)
Efficiency
• What is efficiency?– Food per acre?– Food per unit labor?– Monetary value per acre?– How do we maximize monetary value– Where does time come into this?
• Thermodynamic efficiency• What is the goal of a food system?
![Page 6: Economic Institutions for Sustainable, Just and Efficient Food System Joshua Farley Community Development and Applied Economics Gund Institute for Ecological.](https://reader036.fdocuments.us/reader036/viewer/2022082610/56649dd95503460f94acf51c/html5/thumbnails/6.jpg)
Solutions 1: New ag. technologies
• New agricultural technologies– Eliminate use of non-renewables– Protect and restore ecosystem services– Maintain or increase food production– Increase resilience against climate shocks
![Page 7: Economic Institutions for Sustainable, Just and Efficient Food System Joshua Farley Community Development and Applied Economics Gund Institute for Ecological.](https://reader036.fdocuments.us/reader036/viewer/2022082610/56649dd95503460f94acf51c/html5/thumbnails/7.jpg)
New ag tech.
• Will markets promote and disseminate?– Treat non-renewable resources as property of this generation
• prices do not reflect demand of future generations• How much would Mona Lisa sell for if auctioned off in Waco, Texas?
– Fail to value, produce or protect resources (goods and bads) that can’t be privately owned• Most ecosystem services, including biodiversity loss, nitrogen
pollution, GHG emissions
– Use price mechanism to ration access to technologies. More environmentally friendly technologies would therefore be underutilized• Value of information maximized at price of zero.
![Page 8: Economic Institutions for Sustainable, Just and Efficient Food System Joshua Farley Community Development and Applied Economics Gund Institute for Ecological.](https://reader036.fdocuments.us/reader036/viewer/2022082610/56649dd95503460f94acf51c/html5/thumbnails/8.jpg)
Solutions 2: Economic Institutions
• Production and dissemination of new technologies
• Allocation of Food
![Page 9: Economic Institutions for Sustainable, Just and Efficient Food System Joshua Farley Community Development and Applied Economics Gund Institute for Ecological.](https://reader036.fdocuments.us/reader036/viewer/2022082610/56649dd95503460f94acf51c/html5/thumbnails/9.jpg)
R&D
• R&D should be publicly funded, open access. Universal consortium– Markets do not fund R&D that benefit the poor, that
are easy to copy, or that protect and restore non-marketed goods and services
– Higher returns on public sector investments• Small scale– Require more direct knowledge of land and ecosystem;
won’t have cheap energy for large scale systems• R&D should be done in collaboration with farmer
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Extension and Adoption
• Extension should be publicly funded– Must facilitate the transfer and adoption of knowledge. Pilot
farms, tec. • Low risk credit
– Farmers cannot be expected to make necessary investments on their own, or risk having to repay loans if projects fail
• Revenue should be provided by beneficiaries of ecosystem services– ES are public goods, this means in general public sector
provision– In some cases, cost savings can be invested, e.g. lower
municipal water costs, flood damages, public health costs, etc.
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Allocation
• Price rationing/markets requires much greater equality
• Alternative forms of rationing? – Easier at national than at global level– Tiered pricing: basic needs cheap– Brazil-California example
• May apply to all essential, non-substitutable resources