Subsidies considered harmful

Farm subsidies are one of the most inept and outright evil economic policies ever invented, trillions of dollars are wasted every year in the world because of farm subsidies in developed countries, while driving into bankruptcy millions of farmers in third world countries.

Millions of tons of food are thrown away because of the ridiculously stupid farm policy of the US and Europe while millions die of starvation.

Of course, nothing is easier than to excite people on the argument that everything should be made in this country and not imported: though what would happen if anybody really tried to carry that out is the same as would happen if everybody expelled his breath from his body and never drew any breath in.” – Viscount Simon, Parliamentary Debates, House of Lords, 1949.

Farm subsidies and food prices

The US and the EU have much higher food prices than the rest of the world. That is primarily due to tariffs (which are indirect subsidies), but direct subsidies also cause inefficient production, and believe it or not, many farmers are paid subsidies to dump their products into the trash (or worse dump them in third world countries and bankrupt local poor farmers in the process) to keep prices up.

Quotes

There are many farm handouts; but let’s call them what they really are: a form a legalized theft. Essentially, a congressman tells his farm constituency, ‘Vote for me. I’ll use my office to take another American’s money and give it to you.” – Walter Williams

[The CAP is] like income support for the land owning aristocracy.” – Kyusu in reddit.

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