3 ms·

If farmers were billionaires and had a cartel to artificially manipulate prices (and it were widely known, just in case they already do that), I imagine we'd he

by skj 11y ago

If farmers were billionaires and had a cartel to artificially manipulate prices (and it were widely known, just in case they already do that), I imagine we'd hear similar complaints.

fragmede 11y ago
No only are there billionaire farmers, but their 'price-fixing cartel' goes so far as to pay farmers to not farm!
- spinchange 11y ago
  There are billion dollar agricultural corporations. I do not think there is a statistically significant population of billionaire family farms. Probably not even in the hundreds or tens of millions $ level, for that matter.
  - bryanlarsen 11y ago
    There are lots of family farms worth more than $10 million dollars. An average Saskatchewan farm has about $1.5 million dollars worth of land and a similar amount in equipment; farms 3X in size are not uncommon. Typically a $3Million dollar farm is run by a farmer by himself; a $10Million dollar farm would either have a single hired hand or more typically be a partnership between two family members. Of course, the farmer himself is not worth $10M, large mortgages and operating loans are usually required.
    - spinchange 11y ago
      >Of course, the farmer himself is not worth $10M, large mortgages and operating loans are usually required. While probably not clear, this was my point. I know in U.S. for instance, policy makers used to argue that repealing the estate/inheritance ("death ") tax would help keep family farms in their respective families. In actual fact, it is very hard to find lots of individual farmers in the U.S. w estate tax exposure.
snowwindwaves 11y ago
In canada there is a government run dairy cartel. It is very similar to the taxi medallions, farmers must purchase the right to produce dairy products. "Quota" for a dairy cow is worth 200k. 2 liters of milk is about $5 at the grocery store. There is also a maple syrup cartel in Quebec which has been in the news recently.

by skj 11y ago

If farmers were billionaires and had a cartel to artificially manipulate prices (and it were widely known, just in case they already do that), I imagine we'd hear similar complaints.

fragmede 11y ago

No only are there billionaire farmers, but their 'price-fixing cartel' goes so far as to pay farmers to not farm!

spinchange 11y ago
There are billion dollar agricultural corporations. I do not think there is a statistically significant population of billionaire family farms. Probably not even in the hundreds or tens of millions $ level, for that matter.
- bryanlarsen 11y ago
  There are lots of family farms worth more than $10 million dollars. An average Saskatchewan farm has about $1.5 million dollars worth of land and a similar amount in equipment; farms 3X in size are not uncommon. Typically a $3Million dollar farm is run by a farmer by himself; a $10Million dollar farm would either have a single hired hand or more typically be a partnership between two family members. Of course, the farmer himself is not worth $10M, large mortgages and operating loans are usually required.
  - spinchange 11y ago
    >Of course, the farmer himself is not worth $10M, large mortgages and operating loans are usually required. While probably not clear, this was my point. I know in U.S. for instance, policy makers used to argue that repealing the estate/inheritance ("death ") tax would help keep family farms in their respective families. In actual fact, it is very hard to find lots of individual farmers in the U.S. w estate tax exposure.

snowwindwaves 11y ago

In canada there is a government run dairy cartel. It is very similar to the taxi medallions, farmers must purchase the right to produce dairy products. "Quota" for a dairy cow is worth 200k. 2 liters of milk is about $5 at the grocery store. There is also a maple syrup cartel in Quebec which has been in the news recently.