The Market Treadmill Against Sustainable Income of European Farmers: How the CAP Has Struggled with Cochrane’s Curse

Bazyli Czyżewski , Andrzej Czyżewski , Łukasz Kryszak


Willard Cochrane was the first to introduce the notion that farmers are on a market treadmill, which, in spite of their constant efforts to improve productivity, wears away any profits that might result. Therefore, the essence of the treadmill is that agricultural income does not grow in line with the increase in productivity. Although reasons of this phenomenon are economic in nature, it has caused a serious social problem, i.e., the relative deprivation of farmers’ income. Solving this problem is crucial for ensuring sustainable farming in its social dimension. The aim of the article was, firstly, to answer the question to what extent the concept of the market treadmill in agriculture is still valid for European countries; and secondly, to develop a sectoral model of agricultural income that would test whether the Common Agricultural Policy (CAP) has been successfully struggling with the Cochrane’s treadmill. The authors carried out panel research in a group of 25 countries over the years 1980–2015 in various subperiods. The main conclusion was that the traditionally understood market treadmill has lost significance in Europe, which might be advocated as a long-term value-added aspect of the Common Agricultural Policy (CAP).
Author Bazyli Czyżewski (WE / KMiGŻ)
Bazyli Czyżewski,,
- Department of Macroeconomics and Agricultural Economics
, Andrzej Czyżewski - Uniwersytet Zielonogórski (UZ)
Andrzej Czyżewski,,
, Łukasz Kryszak (WE / KMiGŻ)
Łukasz Kryszak,,
- Department of Macroeconomics and Agricultural Economics
Journal seriesSustainability, ISSN 2071-1050, (N/A 70 pkt)
Issue year2019
Publication size in sheets0.75
Keywords in Polishdochody rolnicze, kierat według Cochrane'a, analizy produktywności, analizy sektorowe, wspólna polityka rolna
Keywords in Englishagricultural income; Cochrane’s treadmill; productivity analysis; sectoral analysis; CAP
ASJC Classification3305 Geography, Planning and Development; 2105 Renewable Energy, Sustainability and the Environment; 2308 Management, Monitoring, Policy and Law
Languageen angielski
Score (nominal)70
Score sourcejournalList
ScoreMinisterial score = 70.0, 16-04-2020, ArticleFromJournal
Publication indicators WoS Citations = 0; Scopus SNIP (Source Normalised Impact per Paper): 2016 = 0.911; WoS Impact Factor: 2018 = 2.592 (2) - 2018=2.801 (5)
Citation count*6 (2020-09-24)
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* presented citation count is obtained through Internet information analysis and it is close to the number calculated by the Publish or Perish system.
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