two cents

When will we just let the free market work?

According to the Economist's article "The End of Cheap Food", the food index has raised drastically in the last few years, a sharp turn from the decline enjoyed in 1974-2005. This hurts many (including entire industries) but especially the poor.

This is, of course, a result of America's constant meddling in the free market. We've allowed politicians in Washington to decide that ethanol will save us from oil dependency, and lo and behold it's not working.

...the rise in prices is also the self-inflicted result of America's reckless ethanol subsidies....The trillions of dollars spent supporting farmers in rich countries have led to higher taxes, worse food, intensively farmed monocultures, overproduction and world prices that wreck the lives of poor farmers in the emerging markets.

When will we let the free markets work? When will Washington quit interfering? Remove the costly subsidies, get rid of the special interests in Washington, quit giving the oil industry a break, and let the free market work. In this case, it's even leading to a worldwide food problem.

Not surprisingly, this is Ron Pauls stance too...for those of you in Florida, be sure to get out and vote in the primaries today.