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The politics and economics of wool marketing, 1950-2000

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  • Richardson, Bob

Abstract

The history of marketing, research, development policies and intervention in marketing of the wool clip is reviewed from the perspective of an insider. The overall theme is that politics took over comprehensively from clear economic policy advice on wool marketing in the past 50 years and woolgrowers paid a high price for this. The idea of ‘integrated marketing’ including an export monopoly, a buffer stock scheme and coordinated promotion and R&D, collectively a strong interventionist philosophy, has waxed and waned. Having borne most of the costs of these failed policies, remaining woolgrowers can now look forward to a market less distorted by political interference.

Suggested Citation

  • Richardson, Bob, 2001. "The politics and economics of wool marketing, 1950-2000," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 45(1), pages 1-21.
    • Handle: RePEc:ags:aareaj:117383
    DOI: 10.22004/ag.econ.117383
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    References listed on IDEAS

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    1. Henry Haszler & Geoff Edwards & Anthony Chisholm & Phillip Hone, 1996. "The Wool Debt, the Wool Stockpile and the National Interest: Did the Garnaut Committee Get it Right?," The Economic Record, The Economic Society of Australia, vol. 72(218), pages 260-271, September.
    2. Greg Hertzler, 1994. "Coordinating Production And Disposal Of Commodity Stockpiles With Application To Australia'S Wool Industry," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 38(1), pages 49-76, April.
    3. Fred H.G. Gruen, 1964. "Some Hidden Gains And Losses Of A Wool Reserve Scheme," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 8(2), pages 181-188, December.
    4. A. A. Powell & K. O. Campbell, 1962. "Revenue Implications Of A Buffer‐Stock Scheme With An Uncertain Demand Schedule," The Economic Record, The Economic Society of Australia, vol. 38(83), pages 373-385, September.
    5. Lewis, Jack Neville, 1979. "Floor Prices and Wool Promotion: Some Further Hidden Costs?," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 47(02), pages 1-9, August.
    6. R. Campbell & B. Gardiner & H. Haszler, 1980. "On The Hidden Revenue Effects Of Wool Price Stabilisation In Australia: Initial Results," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 24(1), pages 1-15, April.
    7. repec:bla:ecorec:v:72:y:1996:i:218:p:260-71 is not listed on IDEAS
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    Cited by:

    1. Kym Anderson & Peter Lloyd & Donald Maclaren, 2007. "Distortions to Agricultural Incentives in Australia Since World War II," The Economic Record, The Economic Society of Australia, vol. 83(263), pages 461-482, December.
    2. Abbott, Malcolm & Merrett, David, 2019. "Counting the cost: the reserve price scheme for wool 1970-2001," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 63(4), October.
    3. Abbott, Malcolm, 2016. "A long-term view of the effectiveness of wool promotion schemes," Agrekon, Agricultural Economics Association of South Africa (AEASA), vol. 54(3), January.
    4. Chris Jones & Flavio Menezes & Francis Vella, 2004. "Auction Price Anomalies: Evidence from Wool Auctions in Australia," The Economic Record, The Economic Society of Australia, vol. 80(250), pages 271-288, September.
    5. repec:ags:ijag24:346844 is not listed on IDEAS

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    Keywords

    Livestock Production/Industries; Marketing;

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