Many parts of rural America have benefited
significantly from globalization.
American agriculture sells the production
of one acre out of three overseas;
this generates one-quarter of U.S. farm
sales revenue. Without this outlet for
its enormous productivity, American agriculture
would be much less profitable,
and land values, which make up a significant
part of many rural communities’
tax base, would be lower. Globalization
has also reduced the cost of many things
that rural people buy while substantially
increasing the variety of goods available
for purchase locally. Nevertheless, globalization also gives rise
to concerns in rural areas about U.S.
jobs being shifted overseas. And the once
large balance of agricultural trade has
shrunk to close to zero as agricultural
imports have grown. Despite the rapid rates of productivity
growth in American agriculture,
most U.S. farm families now earn most
of their incomes from nonfarm sources.