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Symposium: Appraisal of Federal Milk Marketing Orders

Statistical Reporting Service, U. S. Department of Agriculture, Washington, D. C.

ABSTRACT

This symposium represents a deliberate effort of the program planning committee of the American Dairy Science Association to direct attention of members to economic affairs of the dairy industry. Analytical papers relating to a currently important dairy marketing program have been selected for presentation. Such economic analyses typify a significant scientific discipline, a branch of social science as distinguished from natural science. The discussion today is intended to be an objective treatment of the subject and not a platform for enunciating policies or programs, even though a recent Supreme Court Decision makes the time opportune for announcing new policy decisions.

It is appropriate to recall several social values, or principles, underlying our economic institutions and business relationships relevant to decisions involved in the development and administration of institutional arrangements such as Federal Milk Marketing Orders. Three pertinent factors are:

1. All parties to a market transaction must benefit; otherwise, a sound basis for continued trading does not exist.