There are powerful movements toward consolidation throughout the food system, and toward high concentration--with only a few buyers or sellers--in many agribusiness markets. Some consolidation follows from economies of scale and innovation, and can therefore be a channel for productivity growth; however, in some circumstances high concentration can lead to reduced efficiency, reduced innovation, and slower productivity growth. Hear Dr. MacDonald assess consolidation in agriculture over the last three decades, and discuss the challenges posed by rising concentration in certain agribusiness markets.”
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