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| I lived through the 1980's farm crisis which by some measures were worse than the first Great Depression.. So I understand how hard of a time that was.. and yes farm subsidies helped our farm survive.
I believe Milton Friedman would point out that the inefficiencies of "subsidies" as well as the inefficient allocation of capital.. (do subsidies drive land costs higher.. which in turn cause higher costs/barriers to entry? Which then require more subsidies...???)
However I believe that he would also point out the massive amount of subsidies that occured in the rest of the world such as Europe as well as trade barriers that conspired to Crash the US grain markets in the 1980's after the commodity run up in the 1970's.
I agree with what I guess is your premise that Ag... Food stuffs are "protected" markets by governments.. possibly in some cases by good reasons.. However, I also believe that markets.. and most preferrably markets free from a Centralized allocator of resources is the best model. Should the government play a role in surveying, assessing, and summing stocks on hand as well as making provisions to see that every effort can be accomplished that is needed to cover future needs? Yes I believe that USDA does a resonably decent job of.. researching and monitoring "market signals" As well as... staying out of the market.. so that incorrect signals are NOT sent.
So do you think that the Government got all the bailouts "correct?" That banks such as Goldman deserved to be saved through the bailout of AIG while others such as Lehman were left to "twist in the wind?" That the bailout of GM vs Chrysler was handled correct.. politically.. what about Ford or Toyota?
Also the wonderfully smashing job that the Government Supported Entities Freddie and Fannie have done in the past decade especially in the Mortgage market... how many Billions more will they need before they return to solvency?
How about the role of Government Regulators as God in these days of economic "re-alignment?" In some states you have a single Judge over-ruling the will of the people at the ballot box.. is an omnipotent.. all knowing Government superior to the collective actions of everyone who "votes" at the ballot box in politics or with their dollars in the marketplace... not only in our desire to govern but also in what will be produced?
Yup.. Government intervention is a real star over the past couple of years. Personally I agree with Milton...
I would rather be Free to Choose. | |
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An OUTSTANDING article.
