Throughout the world, there has developed a growing consensus that markets do a better job of coordinating industries and economies than government. However, some markets perform much better than others. And, the organization and coordination of commodity systems vary greatly--from dairy in which government still plays a strong role, to broilers which is highly industrialized, to fresh market fruits and vegetables that are largely coordinated by spot markets. There remain many questions about how markets actually work, the appropriate role of government in different parts of the economy, the level of market power in various markets, and the role of cooperatives and investor-owned firms. In its teaching and research on markets and prices in the food system, the department focuses on a number of areas.