Old Economics for New Problems ‐livestock Disease: Presidential Address

The strength and credibility of agricultural economics analysis, and especially ‘production economics,’ stem from its clear links with identifiable technical processes and commonly‐confronted decisions about resource use. Despite its importance as a serious imperfection in livestock production, the phenomenon of disease has not been widely explored within this analytical framework. This paper sets out to characterise animal disease as an economic problem and explore an economist's approach to what might otherwise be considered an essentially veterinary problem. Some basic models, rooted in conventional production economics, are proposed to illuminate the economic costs of disease and the conceptual basis for optimal strategies in disease control. A number of areas for further methodological and empirical development are put forward. As may be expected of Presidential Addresses to the Society, the paper encourages agricultural economists to pursue further work in this general area.