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Natural Resource Capital Formation in American Agriculture: Irrigation, Drainage, and Conservation, 1855-1980

Author

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  • Pavelis, George A.
Abstract
In 1980 irrigation, drainage, and conservation assets serving U.S. agriculture amounted to $44.3 billion (1977 dollars). These assets, called natural resource capital (NRC), represented about 25 percent of all depreciable nonland business capital in agriculture. Producers' durable equipment other than specialized irrigation equipment accounted for 43 percent of NRC. Nonresidential farm service structures made up the remaining 32 percent of all depreciable business capital. Farm homes, not an element of farm business capital, were worth $38.5 billion, or 13 percent less than the value of NRC on and off farms. In 1980 the onfarm and off farm values of NRC facilities and associated equipment were almost equal, at $22.1 and $22.3 billion, respectively. The onfarm component represented about 14 percent of all depreciable (nonland) business capital on farms.

Suggested Citation

  • Pavelis, George A., 1985. "Natural Resource Capital Formation in American Agriculture: Irrigation, Drainage, and Conservation, 1855-1980," Staff Reports 277800, United States Department of Agriculture, Economic Research Service.
    • Handle: RePEc:ags:uerssr:277800
    DOI: 10.22004/ag.econ.277800
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    References listed on IDEAS

    as
    1. Pavelis, George A., 1973. "Energy, Natural Resources and Research in Agriculture: Effects on Economic Growth and Productivity for the United States," Miscellaneous Publications 324660, United States Department of Agriculture, Economic Research Service.
    2. Greenshields, Elco L., 1948. "Irrigation Agriculture in the West," Miscellaneous Publications 316044, United States Department of Agriculture, Economic Research Service.
    3. Robert W. Harrison, 1947. "Land Economic Research in the Alluvial Valley of the Lower Mississippi River," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 29(3), pages 593-615.
    4. Emery N. Castle, 1965. "The Market Mechanism, Externalities, and Land Economics," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 47(3), pages 542-556.
    5. John F. Timmons, 1954. "Economic Framework for Watershed Development," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 36(5), pages 1170-1183.
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    Cited by:

    1. Nielsen, Elizabeth G. & Miranowski, John A. & Morehart, Mitchell J, 1989. "Investments in Soil Conservation and Land Improvements: Factors Explaining Farmers' Decisions," Agricultural Economic Reports 308064, United States Department of Agriculture, Economic Research Service.
    2. Gordon C. Rausser, 1992. "Predatory versus Productive Government: The Case of U.S. Agricultural Policies," Journal of Economic Perspectives, American Economic Association, vol. 6(3), pages 133-157, Summer.
    3. United States Department of Agriculture, 1989. "The Second RCA Appraisal: Soil, Water, and Related Resources on Nonfederal Land in the United States: Analysis of Condition and Trends," USDA Miscellaneous 329987, United States Department of Agriculture.
    4. Heimlich, Ralph E. & Langner, Linda L., 1986. "Swampbusting: Wetland Conversion and Farm Programs," Agricultural Economic Reports 308005, United States Department of Agriculture, Economic Research Service.

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