¶ … Farm Subsidies by David Hosansky in the CQ Researcher of May 17, 2002 (Pages 433-456). The article is a 23-page report on the $249 billion U.S. Farm Bill signed into law by President Bush on May 13, 2002 that drastically increases farm subsidies over the next 10 years. It covers topics such as the Issues, Background, Current Situation & Outlook, and Sidebars and Graphics. The report is a fairly comprehensive and informative write-up on the issue, which is to be expected as the author is a two-time Pulitzer Prize nominee. However, in my opinion it lacks an international perspective of the issue and the author (perhaps in an effort to give both sides of the picture) does not take a clear-cut stand on the merits or demerits of Farm Subsidies.
International Implications
The signing into law of the U.S. 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...
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