U.S. Farmers Stung by Tariffs Now Face a $3.5B Corn Loss

Re:U.S. Farmers Stung by Tariffs Now Face a $3.5B Corn Loss by javert on Friday August 16, 2019 @10:41PM (#20721630)

> When we didn't have subsidies, we had underproduction of food crops because of the vagaries of market forces. This lead to starvation and displacement.

No idea at all what you're talking about. The last time a Western non-planned economy had a famine outside of wartime was in 1906 [1].

The closest thing is a "food shortage" in Ireland in 1924-1925.

That is a truly incredible track record for relatively free markets.

[1] https://en.wikipedia.org/wiki/List_of_famines

[ Parent | on HN ]

Re:U.S. Farmers Stung by Tariffs Now Face a $3.5B Corn Loss by tehjoker on Monday August 19, 2019 @08:09PM (#20742830)

Sorry, I was riffing and forgot some of the key details. It was that during the great depression, there was a crisis of overproduction at the same time as an economic crisis. Farmers began destroying food at the same time that people could not eat (because they could not access or afford the food). The government stepped in to manage the prices and actively destroyed ag output.

https://www.britannica.com/topic/Agricultural-Adjustment-Adm...

[ Parent | on HN ]