Geo-Political Economic Analysis of Agriculture and Farmers Welfare Under Economic Systems and WTO Global Corporate Era

MB Dastagiri¹*, Shailaja Thota² and Lekhana P²

¹Principal Scientist, ICAR-National Academy of Agricultural Research Management, Rajendranagar, Hyderabad, India
²Young Professional, ICAR-NAARM, Rajendranagar, Hyderabad, India

*Corresponding Author: MB Dastagiri, Principal Scientist, ICAR-National Academy of Agricultural Research Management, Rajendranagar, Hyderabad, India.

Received: October 10, 2022; Published: October 31, 2022

Abstract

Most of the world's poor people earn their living from agriculture, so if we knew the economics of agriculture we would know much of the economics of being poor. Modern world is defined by various-isms like social, political, economic and philosophical ideologies. Globally, agriculture and farmers are not benefited by market reforms. Type of economic systems of a Country also effects farming and farmers. Food security and development in developing countries especially in agribusiness are shaped by Transnational Corporations. Placing national interests above corporate profit has led corporations to sue National Government as a result of WTO rulings. The present paper researches on how Global Agriculture and Farmers Welfare are under different Economic Systems in the Global Corporate Era. Scientific and Political policy approach and Meta-analysis are employed to evaluate Global Agriculture and Farmers Welfare under different Economic Systems and Global Corporate Era. It can be inferred that developing countries are following socialistic economy while, capitalist economy is adapted in developed countries. Agriculture and farmers are protected by subsidies and direct income measures in western agriculture. Also, In the world, Majority of the countries operate on mixed economies. Problems of Socialist Agriculture is Farmer’s resistance to forced collectivization of lands had led to Less entrepreneurial activities in farming. Agriculture technology transformed farming, rather than living standards. Communists countries identifying characteristics in agriculture in which numerous farmers administer their holdings as a joint enterprise are collective farming and communal farming. Communal farms can be divided into two categories: Agricultural cooperatives, in which members and owners collaborate on farming activities and collective farming, in which state farms are owned and managed by the government directly. A mixed economic system which protects private properties and provides economic freedom in the application of capital, while allowing governments intervention in economic activities to achieve their social goals. Farmers gain from lower rates for electricity and other energy services, as well as subsidies, in a mixed economy. Agriculture benefits more than other types of economies because there is free movement of ideas between public and private entities. The results show that Globally, all countries protect agriculture but in many developing countries, Transnational agribusiness shapes trade development and hence affects food security further pushing farmers under debt trap and making them commit suicides. But multinational corporations can provide benefits like generating employment opportunities and the latest technological innovations in their host countries. Finally, the study conclude that Mixed Economic systems is good for agriculture and farmers welfare. The study suggests that the countries have to protect agriculture and farmers from corporates by regulating.

Keywords: Agriculture; Farmers Welfare; Economy

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Citation

Citation: MB Dastagiri., et al. “Geo-Political Economic Analysis of Agriculture and Farmers Welfare Under Economic Systems and WTO Global Corporate Era" Acta Scientific Agriculture 6.11 (2022): 48-66.

Copyright

Copyright: © 2022 MB Dastagiri., et al. This is an open-access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.