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This study examines agricultural lending by commercial banks and the competition they face from the Farm Credit System (FCS) and non-traditional lenders, including merchants, dealers and other input suppliers.

We construct a measure of commercial banks' perceived competition with FCS or non-traditional lenders using the individual responses to the Federal Reserve Bank of Chicago's Land Values and Credit Conditions Survey between 1999 and 2019. Through regression analysis of an unbalanced panel of survey responses, we present a number of stylized facts on the relationship between perceived competition and farm loan rate spreads, collateral requirements, loan delinquencies and expected lending volumes.

Our analysis shows that the two sources of competition have very different effects on commercial bank lending terms, loan portfolio riskiness and expected loan volumes. With these results in mind, we offer a number of suggestions for future research.

We leverage the unique characteristics of the Land Values and Credit Conditions Survey to examine the competition with non-traditional lenders that cannot be observed using administrative data.

In this paper I utilize ethnographic data from the construction industry to demonstrate that occupational safety must be interpreted as having two different forms: the official policies and the actual operating procedures. This distinction is significant because it highlights the difference between rules that are stated – and may even be formally trained – and the rules that actually govern the workplace. It is this latter set of rules, a complex set of decision-making practices balancing the speed of work against acceptable loss, that actually shapes the worker’s individual decision-making. By illuminating the distinctions between these two forms of training, and the structures in which they occur, I challenge a common assumption of much safety-related research in construction, that worker behaviors and worker cultures are the most common causes of policy violations (e.g. Dedobbeleer & German, 1987; Hoyos, 1995; Hsiao & Simeonov, 2001; Lewis, 1999; Lingard, 2002; Personick, 1990; Ringen, Seegal & Englund, 1995; Rivara & Thompson, 2000; Smith, 1993). I argue here that what is often construed as “worker culture” is actually a structurally determined response to the unwritten rules of the construction industry. This is meaningful because the assumption that workers “choose” to forgo occupational safety protections as a cultural choice (generally construed as an enactment of working-class masculinity) is then used to assume or prove workers’ consent to the larger capitalist exchange of wages for work (e.g. Burawoy, 1979; Marx, 1867, 1977). By drawing on the media coverage of the workplace fatality, I highlight the costs and legal ramifications of such a dual system.