*Compassion, by the Pound*
That is the new book by F. Bailey Norwood and Jayson L. Lusk, and the subtitle is The Economics of Farm Animal Welfare. A few facts:
1. From survey evidence, “Food prices” get an “importance score” of %5.06, while “Well-being of farm animals” gets an importance score of %4.15 (p.192). That’s almost on a par.
2. Fifty-five percent of Americans believe that housing chickens in cages is not humane (p.344).
3. The market share of cage-free eggs has never exceeded two percent (p.261).
I am delighted to see this book out. This is one of the most shamefully neglected topics in all of economics. Let’s hope it receives the attention it deserves.