Wed, 09 Nov 2005

Mountains of Corn and a Sea of Farm Subsidies

Good summary of the contradictions and paradoxes of agricultural subsidies. However, it neglected to mention two factors that will be huge when these payments to farmers go the way of the dodo: the political fallout will be immense, as most of the farm states are the reddest of the red Republican strongholds. And the impact on foreign "aid in kind" (food) shipments will be enormous as well: feeding sub-Saharan famines with cheap, subsidized grain will simply no longer be possible, and the taxpayers will end up footing a far more visible foreign aid bill.

This season's bumper crop of corn is too much of a good thing, underscoring the paradox at the heart of the government farm subsidy program.

(link) [NYT > Home Page]

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