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> 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 id
by javert 7y ago
> 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 https://en.wikipedia.org/wiki/List_of_famines
- tehjoker 7y agoSorry, 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-Administration https://www.britannica.com/topic/Agricultural-Adjustment-Adm...