So why do we hear so much about the dire consequences of failing to pass a piddling bilateral trade deal with a ruthless Latin American regime but almost nothing about the dire consequences of the hideous $300 billion distortion caused by the latest round of farm subsidies — most of which goes to big agribusiness, not struggling family farms? How about a little more noise on the farm front?
Why don’t we hear more outrage about the ludicrousness that is are farm policy? For those on the left who decry “corporate welfare”, here is a great place to focus your opprobrium; for those on the right who are against big government programs, fire away; for those who are in favor of free trade, this is a no-brainer; for those who are protectionist, they are already too familiar with no-brainer.
[Update] Go ahead, nix the subsidies:
So by all means, eliminate farm supports and don’t stop there. I suspect that once all agricultural subsidies, including those for energy crops, are removed, the net effect on food prices will be a moderation.
Please, let this trend catch on.