This assignment will eventually lead to a presentation in which a policy proposal/policy brief for an agricultural issue will be explained. The topic is Impossible Meats and the economic and industry issues associated with their emergence, particularly what kind of policy could be proposed that addresses problems brought forth by the way impossible meats are currently labeled or what could be done to better regulate the industry. I will attach the work I have done thus far and the feedback given for improvements. Clearly describe the problem and the associated market failure (positive/negative externalities, lack of public goods, imperfect information, market control, environmental concerns). Remember that a market failure occurs when the price in the market does not factor in all costs and benefits to provide and consume a good. A market will fail if the amount produced in the market is different from the socially optimal amount of the good. This can lead to the over-or under-consumption of the good. You need to clearly link the problem to a specific market failure and discuss how this results in over-or under-consumption of the good. In your solution, be sure that you are specific. Does your solution require government intervention? What type of legislation might be required? Are taxes/subsidies involved? If so, how? Are tradable permits required? Extension of property rights? Advertising? International cooperation? Who will implement your solution? Can you identify an entity that will administer your solution? Is there a group of politicians that may be interested in participating? You can use the Policy Recipe to guide you. At least 5 sources listen in APA format.
