Category: Economics

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Discussion on Corporate Welfare is Done

In this paper, a discussion on corporate welfare is done. Arguments are also advanced for its support or opposition to the program. Corporate welfare is a term that is used to describe a program in the United States of granting subsidies to some corporations with an aim of improving them. This is done majorly for the good of the public. It could be to save jobs or prevent some corporations from collapse. Other sensitive sectors of the economy are also given this kind of assistance to maintain them functioning owing to their relevance in the economy.

Protecting the Poor 

The program is majorly targeted at protecting the poor against exposure to difficult economic conditions and hence the state intervention to ensure normalcy is restored. This concept has however had its share of debate also. There are those who support it while others vehemently oppose it based on their views and interpretation. The grants offered can be in the form of direct subsidies or indirect subsidies (Whitfield, 2001). The direct ones include funding for agriculture, economic development, transportation, energy, research and technology. In indirect subsidies; there are usually support accorded to the United States goods and products in the foreign countries markets.

From the above information, it is evident that the program is aimed at helping the people of the United States albeit the poor. Funding of areas like research and technology would ensure that their products are competitive in the, market and hence increased earnings to the American economy. Funding agriculture and all the other areas no doubt greatly assists the citizens. Therefore, this worthy activity is for the good of the people and should be supported. The concept should be encouraged. The funds awarded for these projects must however be accounted for properly to ensure that the results are those contemplated by the designers of the program, to help the American people.

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