. The Beneficiaries of Beef
. The Beneficiaries of Beef
This chapter presents the beef boom as a prime example of how the private sector can bring about economic development when the government removes obstacles to trade and investment. The favorable access to the protected U.S. beef market pumped excess profits into Central America's traditional beef business. At the same time, the U.S. government, Washington-based development banks, and the governments of Central America reduced the private costs of beef production by building roads into potential grazing areas, providing technical assistance to ranchers, and lubricating the business with subsidized credit. Multinational corporations responded to the profit incentives and tapped wealth from every phase of the business, modernizing as they went. Agribusiness supply houses increased their sales of improved grass seed, barbed wire, fertilizer, pasture-clipping equipment, frozen semen, veterinary medicines, feed supplements, and other modern inputs. Fruit companies and other corporations with access to large blocks of land turned previously idle properties into money-earning pastures.
Keywords: beef boom, private sector, economic development, U.S. beef market, multinationals, beef production
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