In a new paper for the American Enterprise Institute, Dr. Barry K. Goodwin at North Carolina State University observed: ”a large share of agricultural subsidies goes to a small segment of society that tends to be wealthier, less financially leveraged, and of higher income than the nonagricultural sectors of the aggregate economy. Moreover, farmers do not generally face more risk than business owners in other sectors, nor do farms fail more often than other forms of business. In fact, farm businesses rarely fail.”I've long held that first-world agricultural subsidies (which make up the biggest chunk of the EU budget, for example) are not just economically stupid, but immoral. The best way for the poor of the world to make a little money is through farming, but they can't compete with government subsidized and protected farms of the first world. At $60 billion a year, this would be an easy cut from the budget.
In short, Uncle Sam is playing reverse Robin Hood.
Wednesday, July 20, 2011 Posted by Auntie Ann
It’s Time To Kick Farmers Off The Federal Dole - Doug Bandow - The Politics of Plunder - Forbes