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Essay / Research Paper Abstract
This 5 page paper examines the role of government in private business and attempts to determine if this is ethical and in accrodance with the free market system. Specifically, this paper examines the farming industry in order to illustrate many points. Bibliography lists 6 sources.
5 pages (~225 words per page)
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sides of this issue and indeed there is a great deal of controversy which surrounds the issue. In order to see just how deep these divisions of opinion
run, it is important to place the issue in context - and we will therefore examine the role which government plays in the farming industry in terms of the agricultural
subsidies which many farmers receive. Government Intervention Via Agricultural Subsides Some dismiss the validity of abolishing agricultural subsidies based on the
world-wide impact that would have on developing countries (Should Agricultural Subsidies Be Abolished, 2002). Proponents of the subsidies claim that Americas participation in a world-wide market would hinder the
farming industry of many developing countries, and "if those economies are reduced to penury by an inability to compete with a more competitive neighbor (inevitable, given the nature of free
markets), then the purpose of free trade will have been defeated" (Should Agricultural Subsidies Be Abolished, 2002). Furthermore, the intervention of the government in the farming industry via
subsidies is viewed as necessary by proponents because "being able to feed the people is a prime duty of all governments, so defending that ability through taxes and subsidies has
to be applied as appropriate" (Should Agricultural Subsidies Be Abolished, 2002). Others against government subsidies site corruption and the need for reduced
government spending as key arguments against the practice (Should Agricultural Subsidies Be Abolished, 2002). There are indeed many benefits to free trade and underdeveloped countries continue to clamor for
the larger countries to put an end to subsidies and in order for them to participate in the market as well (Smith, 2002). Starting in the 1930s,