Agricultural Subsidies: These Still Exist?
Abstract
The purpose of this paper is to examine the negative impact agricultural subsidies have on the United States of America’s (U.S.A) economy. Although the impacts of American subsidies can be felt worldwide, they fall outside the scope of this paper. This paper will examine and analyze how agricultural subsidies came to be, the justification behind such policies, how these policies have formulated and strengthened agricultural monopolies and how today, the government continues to fund this policy despite it being a flawed, outdated practice. Specifically, this paper will examine popular economic theory which initially influenced American economy policy; thereby supporting agricultural subsidies. By considering the immense financial burden on taxpayers whilst focusing on the long-term consequences of this policy, this paper will appropriately conclude by supporting the elimination of agricultural subsidies entirely.
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