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April 08, 2008

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though it doesn't even mention the huge boost to developing economies that would result if US and other subsidies were withdrawn.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."

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