NYT Editorial – Support Free Markets (?, !, ?!, !!!)
October 15th, 2007 at 4:53 am by Cranky
Reducing and working towards the eventual elimination of farm subsidies is a long overdue step our government needs to take.
Don’t take my word for it. Read what Dean Kleckner, a farmer and the chairman of Truth About Trade and Technology, has to say about it.
Today, it’s obvious that we need to transform our public support for farmers. Many of our current subsidies inhibit trade because of their link to commodity prices. By promising to cover losses, the government insulates farmers from market signals that normally would encourage sensible, long-term decisions about what to grow and where to grow it. There’s something fundamentally perverse about a system that has farmers hoping for low prices at harvest time — it’s like praying for bad weather. But that’s precisely what happens, because those low prices mean bigger checks from Washington.
It’s this form of welfare that we can do without but few politicians have the guts to act on.