You ever seen the graph of foxes and bunnies? Where all the foxes starve when they kill all the bunnies?
That's what happens IRL, too many food producers go bust, the stored glut gets used, and suddenly you're not producing enough and people die.
Of course, you wouldn't switch to this all at once. You'd announce that you are gradually cutting farm subsidies over the next ten years. The least profitable (efficient) operations would close. This would also develop slack in the form of unused land, which could be held in reserve in case of a supply shock like the one you're hypothesizing.
I don’t think I can give a response to this that’s acceptable on HN, but wow.
Managing the food supply to make sure there's always a healthy surplus makes a lot of sense to me. The problem with holding land in reserve, as you're suggesting, is that it takes at least an entire growing season to start producing from that land. That might be too long in the case of a famine.
Our food reserves are huge.
> And panic buying also isn't a thing.
Panic buying can only eat up a tiny little fraction of a year's food supply.
> [just insults]
Maybe that happened in pre-industrial societies, but that isn't what happens today. Today, when things go wrong, prices of some products go up a bit (e.g., meat), and people buy less of it, replacing those calories with cheaper ones (e.g., rice, corn).
The beauty of a well functioning market is that it's not centralized, things don't go wrong all at once, they happen on a gradual scale and folks can adjust.
(Or, to riff off of what vcf1 said, then you have to spend less of it feeding cattle, and more of it feeding people. That's survivable, at least.)
https://en.wikipedia.org/wiki/Corn_production_in_the_United_...
Additionally, the farmland and farm equipment that was owned by bankrupt producers will still be able to produce food after new ownership.
It's also the case that a medium sized garden doesn't produce much calories.
The gardener is doing it wrong if this is their result.
When I say "medium", I mean something that is still a modest hobby, and when I say "much calories", I mean at least a few months of food for several people.