Professor Mark J. Perry's Blog for Economics and Finance
Watch John Stossel's report on farm subsidies, highlighting the high and rising levels of income for American farmers (they make twice as much as the average American), and the rising real estate values for U.S. farms (+77% in Nebraska over the last four years). 
Dr. Mark J. Perry is a professor of economics and finance in the School of Management at the Flint campus of the University of Michigan. Perry holds two graduate degrees in economics (M.A. and Ph.D.) from George Mason University near Washington, D.C. In addition, he holds an MBA degree in finance from the Curtis L. Carlson School of Management at the University of Minnesota. In addition to a faculty appointment at the University of Michigan-Flint, Perry is also a visiting scholar at The American Enterprise Institute in Washington, D.C.
4 Comments:
Again I say, that hand outs and bailouts are counter productive, leading to extensive bureaucracy and waste. Still, the farm is the first business, and excess food is the basis for the entire economy. National food production should be protected as a matter of national security, but this should be done by means of tariffs, and not subsidies.
Arman,
Why would anyone seek tariffs in an area where the U.S. has a surplus which it exports? The U.S. is able to produce more food than it needs with only 2% of its population.
Time you actually learned something about farming.
With regard to farm subsidies, one should judge them on the basis of prices over the last several years not just recent commodity spikes. Corn, for example, is already half what it was last year to say nothing of declining wheat and soy prices. The cost of fertilizer, seed stock and equipment have all gone up in the last year.
Unless one does the research, on what basis can one advocate public policy aside from pulling it like a rabbit out of a hat.
They make twice as much as average Americans.
Sure, but look at what they have invested, compared to the average American. Their ROI is a fraction of the Average American.
Even the few that get big subsidies.
Rich farmers are rich because you have to be rich to be a farmer.
RH
Bingo!
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