Parity, or "equality for agriculture," has long been a goal for farmers. Several definitions of parity have been used as a guide to the well-being of farmers, as a basis for the farm programs of the Government, and as a guide to general economic programs aimed at high levels of employment,...

Establishment of parity prices by way of the unit of purchasing power approach—the concept on which, the parity formula is now based—may not adequately reflect parity of incomes and living standards for farmers. This is true especially if the norm or base period is far back in the...