Tuesday, April 22, 2003

Agriculture

This article has some nice facts which further reveal Stiglitz's cheap theatrics as being just that.

Stiglitz states that US (and European) agricultural subsidies depress the value of agricultural goods, reducing the money third world farmers can make from farming. But third world non-farmers benefit from cheaper food, and they would be worse of if American tax payers stopped tying $20 notes to their lettuce. According to the article, the net effect would be negative in the very poorest countries, and positive in the less poor countries.

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