A leading goal of 
US foreign policy has long been to create a global order in which US corporations have free access to markets, resources and investment opportunities. The objective is commonly called “free trade,” a posture that collapses quickly on examination. Generally, great powers are willing to enter into some limited degree of free trade when they’re convinced that the economic interests under their protection are going to do well. That has been, and still remains, a primary feature of the international order.
The ethanol boom fits the pattern. As discussed by agricultural economists C. Ford Runge & Benjamin Senauer, “The biofuel industry has long been dominated not by market forces but by politics and the interests of a few large companies,” in large part Archer Daniels Midland, the major ethanol producer. Ethanol production is feasible thanks to substantial state subsidies and very high tariff s to exclude much cheaper and more efficient sugarbased Brazilian ethanol.
US foreign policy has long been to create a global order in which US corporations have free access to markets, resources and investment opportunities. The objective is commonly called “free trade,” a posture that collapses quickly on examination. Generally, great powers are willing to enter into some limited degree of free trade when they’re convinced that the economic interests under their protection are going to do well. That has been, and still remains, a primary feature of the international order.The ethanol boom fits the pattern. As discussed by agricultural economists C. Ford Runge & Benjamin Senauer, “The biofuel industry has long been dominated not by market forces but by politics and the interests of a few large companies,” in large part Archer Daniels Midland, the major ethanol producer. Ethanol production is feasible thanks to substantial state subsidies and very high tariff s to exclude much cheaper and more efficient sugarbased Brazilian ethanol.
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Source: IIPM Editorial, 2006
An IIPM and Management Guru Prof. Arindam Chaudhuri's Initiative
Read more:-
Source: IIPM Editorial, 2006
An IIPM and Management Guru Prof. Arindam Chaudhuri's Initiative
Read more:-
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