Tuesday, August 28, 2012

My letter to the NY Times re: Consequences of EU Ag subsidies foreseen by Mises

Re: Spain's Crisis Reignites An Old Social Conflict

Dear Sirs:
In his magnum opus Human Action Ludwig von Mises explains that subsidies result in LESS of the desired good rather than more. Subsidies allow inefficient producers to remain in business, whereas the free market would place scare resources into the most productive hands. The social unrest among Spain's unemployed agricultural workers, who resent subsidy-gorged landowners who allow their fields to lie fallow, is a perfect illustration of Mises' insights.

No comments:

Post a Comment