The theory of market economies emphasizes freedom of choice and limited government intervention. The

Aug 17th, 2016
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The theory of market economies emphasizes freedom of choice and limited government intervention. The classic argument for government intervention is market failure - the inability of the market economy to correct itself from a dysfunctional state (such as the Great Depression). Examine one case of significant government intervention as it relates to your current industry of employment or an industry in which you are interested in working. Examples of intervention programs include, but are not limited to -US agriculture support programs -Low income support programs (Food Stamps, Earned Income Tax Credit, Child Tax Credit, and Temporary Assistance to Needy Families) -Medicaid, Children's Health Insurance Program, Obamacare -Low income rent controls and housing vouchers -Government promoting renewable energy sources, discouraging fossil fuel sources Develop a 16-slide presentation including detailed speaker notes or voiceover including the following: -Describe the intervention and det

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The intervention and its history U.S. Farm support policy During the great depression (1930s), the income of thefarmers was far below the national average The various farm programs are Marketing assistance program Countercyclical payment Direct payment Milk income loss contract Conservation stewardship program The first legislation in this regard was known as the farmsafety net (mercier, S. 2012)The intervention and its history Income levels have increased and the farmers havebecome affluent (offutt, S. 2002) Additions have happened to the farm programs No deletions Lot of pressure on the congress to either provide atransparent and compelling rationale for the farmpolicy or stop the policy altogetherAnalyze the arguments forgovernment intervention The arguments for the U.S. Farm policy basedgovernment interventions are; U.S. Agriculture is very vulnerable to external shocks Farming is extremely supply inelastic in the short run Agricultural sector is particularly vulnerable tosystematic risksThe arguments against governmentintervention The arguments against the U.S. Farm policy based governmentinterventions are; The farm income levels have increased drastically in the past fewdecades.For 2010, usdas economic research service estimates that average farmhousehold income was about $84,440, while the most recent censusbureau estimate is that overall average u.S. H

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