Professor Mark J. Perry's Blog for Economics and Finance
Posted 3:38 PM Post Link
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This proves that the regulatory octopus of the state is stronger than free enteprise.More evidence of this truth are the many charts run by Dr. Perry showing the huge gains made in agriculture, our most regulated and subsidized and mollycoddled economic sector in America.Therefore, we should cave in, and go with state-sponsored enterprises, ala China. After all, farmers have prospered for generations under the federal wing and at the federal teat, so now the rest of us can too.BTW. Kentucky, which may vote in the libertarian Rand Paul, receives about $1.50 in federal outlays for every dollar it sends to DC, according to the Tax Foundation, a right-wing group.Kentucky should prove an interesting battleground, should anyone do the math and ask Paul about federal spending in Kentucky. On average, each and evry resident of Kentucky gets back $8321 in federal spending, vs. just $5283 in taxes, in 2005. A $3000 per person subsidy.But, I am sure Paul and his fellow libertarians will stand on honor, and balance those numbers (much worse by now, to be sure).
Benjamin,I find your arguments borderline ridiculous and certainly ignorant of what Dr. Perry is trying to say in his past posts.(1) Re: agriculture - the agricultural sector is not the same as the food sector and furthermore, there are just as many parts of the agricultural sectors operating freely as not - it would be interesting to see comparable data for both sectors.(2)Your comment on Kentucky conflates an average outcome with the majority outcome. Now I have no idea why the Kentucky data looks the way it does - but if a few KY tobacco farmers get massive subsidies (to not grow tobacco) and everyone else is a net payer, your data would be correct while your point turned on its head.
After all, farmers have prospered for generations under the federal wing and at the federal teat, so now the rest of us can too.What planet do you live on? The vast majority of farmers have failed, closed up shop, and moved to the city.Many of the ones that remain subsidize their own non-farm expenses as a life-style commitment, so that the actual AG operations can break even.many of those still in business "prosper" at ridiculously low profit margins. Gross profit on an acre of soybeans is $36, according to published ag school budgets.I'd like to see more explanation of your Kentucky argument.
Obviously the octopus should be the mascot of the IRS.Watch out SHARKS.
This just proves a wrestler/grappler will always win against a striker/boxer.
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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.
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