This paper provides an overall review of product market effects of U.S. agricultural policies in aggregate, and analyzes consequences for gains and losses, with special attention to landowners as recipients of rents generated by programs. Ideas and evidence are presented, based on a combination of past studies and new work, to draw inferences about the consequences of agricultural commodity programs for commodity markets and factor markets.

See PDF article here: Who Really Benefits from U.S. Farm Subsidies? by Julian M. Alston