New Food Economy: What happens if we eliminate crop insurance altogether?

Imagine for a moment, a possible future, some years ahead: Across the plains, acres that were once plowed up and planted to corn or wheat go back to native grass. Marginal, flood-prone land is left to return to wetlands, improving water quality downstream. Farmers diversify their operations in order to effectively manage risk in a changing climate. Monocropping is a thing of the past.

Or this scenario, not so long from now: Growers adopt practices like no-till and cover cropping, which helps lower their inputs—the money spent on fertilizer, pesticides, seed, and anything else they need to get a crop in the ground. They turn a profit with ease. They may even switch to cheaper, non-GMO seeds and see profit margins swell.

In this future tableau, cattle are turned out to pasture on land that was once intensively farmed. Land managers plant low-cost grasses and other silage, and graze livestock on a portion of the land while the remaining acres are allowed to rest and regenerate. There’s always something growing in the soil, anchoring nitrogen, helping retain rainwater, and sequestering carbon.

This is what American agriculture could one day look like, according to farmers, environmentalists, and economists. But first we’d have to get rid of federally subsidized crop insurance.

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