Farmers protesting in Brussels drive their €100k John Deere tractors through down town. #YourTaxMoneypic.twitter.com/ZKrOcqgCu2
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@burgherreview Really? I would keep buying and eating food even if there where no subsidies. Would you go into starvation?
@andersostlund no, the point is that agricultural commodities are too cheap to recover overheads and interest. ->
@burgherreview Of course not. The market will produce exactly what you need and are willing to pay for. That is why it is called "market".
@andersostlund "willing to pay for" is the most overlooked part of the definition.
@burgherreview Why? We always pay exactly what we are willing to pay for every single product we buy. That is market economy and it works.
@andersostlund and when no one offers to sell at the price you offer to buy is market too. A dangerous combination when it comes to food.
@burgherreview Not at all. You would have just the amount and kind of food produced that people want to buy. Market economy at work.
@andersostlund in theory - yes. In reality adjustments will be ugly.
@burgherreview Adjustments are almost always unpleasant in a market economy. In a planned economy they are disastrous.
@andersostlund -> if agricultural produce was priced by market, you would have to pay 30-70% more for food.
@burgherreview Of course not. It is the other way around. Prices are higher than they should be because of subsidies and import duties.
@andersostlund how can prices be higher due to subsidies?
@burgherreview Because the subsides are for the farmers sometimes not producing something. They protect the farmer, not the consumer.
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