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Food And Fiber System
The food and fiber system is the sector of the U.S. economy that includes agricultural production and all economic activities supporting or utilizing that production, including farm machinery and chemical production, and processing, manufacturing, transportation, and retailing. In 2000, the food and fiber system employed 24.1 million workers, or 17.1% of the U.S. employment, and accounted for $1,264 billion, or 12.8% of the gross domestic product. Farming is one of the smaller components of the system, accounting for 1.2% of U.S. employment and $82 billion in value added to GDP. Food and fiber protectionism The term "food and fiber" is also used to describe a form of economic protectionism consisting of protectionist policies and government subsidies for the nation's own agricultural industry. This form of protectionism has been criticized because developed nations often claim to want free trade and reduced trade barriers, while they heavily protect their own agricultural sector. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Protectionism
Protectionism, sometimes referred to as trade protectionism, is the economic policy of restricting imports from other countries through methods such as tariffs on imported goods, import quotas, and a variety of other government regulations. Proponents argue that protectionist policies shield the producers, businesses, and workers of the Import substitution industrialization, import-competing sector in the country from foreign competitors. Opponents argue that protectionist policies reduce trade and adversely affect consumers in general (by raising the cost of imported goods) as well as the producers and workers in export sectors, both in the country implementing protectionist policies and in the countries protected against. Protectionism is advocated mainly by parties that hold Economic nationalism, economic nationalist or left-wing positions, while economically right-wing political parties generally support free trade. There is a consensus among economists that protectioni ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
