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A hunger for subsidies

The food riots in parts of Africa, Asia and the Caribbean have multiple causes not least a long-overdue surge in demand from people in developing countries eating more as they lift themselves out of poverty. But, as an editorial in the Washington Times reminds us, agriculture subsidies are also to blame. The diversion of corn crops to produce ethanol particularly in the US is a big contributor to the crisis while at the same time subsidised overproduction by the West has removed much of the financial incentive for  poorer countries, particularly in Africa, to grow their own crops.

Planting next year's subsidies

Here is an interesting post from The Harvard Crimson on the craziness of agriculture subsidies - even though it doesn't even mention the huge boost to developing economies that would result if US and other subsidies were withdrawn.
For what is happening in Africa now read this  article.

Sample:
Farmer’s need subsidies almost as much as hedge fund managers do. In an era of gaping budget deficits, it seems quite clear that the billions of dollars dumped into lining the pockets of America’s already affluent farmers could be better spent elsewhere. "In 2005, the government doled out $25 billion to farmers, which was 50 percent more than the amount received by welfare families."