An Index of Socio-Economic Well-Being of U.S. Farm Households

The primary purpose of the paper is to construct a combined index of quality-of-life and economic wellbeing based on national data from the 2004 Agricultural Resource Management Survey. Additional objective is to assess the role of increased utilization of various types of Federal farm programs in the context of the life-cycle on socioeconomic wellbeing. A central finding, which has implication for rural development and the continuity of the family farm, shows a positive relationship between increased intensity of farm program participation and higher likelihoods of socioeconomic wellbeing, particularly among elderly farmers.