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.[1] 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.

References

Public Domain This article incorporates public domain material from Jasper Womach. Report for Congress: Agriculture: A Glossary of Terms, Programs, and Laws, 2005 Edition (PDF). Congressional Research Service.

Notes

  1. ↑ "Archived copy" (PDF). Archived from the original (PDF) on 2012-03-20. Retrieved 2011-09-09.{{cite web}}: CS1 maint: archived copy as title (link)
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.