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A reaction to the Hosansky article on Farm Subsidies in the "CQ Researcher" which discusses the Farm Bill implemented by President Bush on May 13 2002. The author illustrates how although the report contained sufficient information on the issue, it had an inward-looking bias and did not adequately emphasize the global impact of the U.S. Farm Bill. Furthermore the report is said to lack an international perspective of the issue and does not take a clear-cut stand on the merits or demerits of Farm Subsidies.
From the Paper:"The signing into law of the US Farm Bill in May 2002 has serious and profound international implications. These effects have only been mentioned in passing by the author and have not been analyzed or explained in sufficient depth. For example, the subsidies that have been built into the Bill (a massive 70% hike over the current levels) would result in overproduction of such food products as corn, wheat, cotton, rice and soybeans. This would drive down the market prices of these commodities and create huge surpluses in the United States. These products would then be exported to the poor countries of the world where the farmers cannot possibly compete with such low prices."
Cite this Article Review:
Farm Subsidies (2003, January 31) Retrieved January 20, 2021, from https://www.academon.com/article-review/farm-subsidies-9675/
"Farm Subsidies" 31 January 2003. Web. 20 January. 2021. <https://www.academon.com/article-review/farm-subsidies-9675/>