This is a great column and I thank Jeff at Alphecca for pointing it out.
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13 comments:
I'd like to see citations of reliable news sources for Sowell's points in that article.
June, I didn't see a single issue raised that I haven't read somewhere else. Sowell is very well respected,
This is from Wikipedia
"Thomas Sowell (born June 30, 1930), is an American economist, social commentator, and author of dozens of books. He often writes from an economically laissez-faire perspective. He is currently a senior fellow of the Hoover Institution at Stanford University. In 1990, he won the Francis Boyer Award, presented by the American Enterprise Institute. In 2002 he was awarded the National Humanities Medal for prolific scholarship melding history, economics, and political science. In 2003, he was awarded the Bradley Prize for intellectual achievement[1]."
I think his credentials speak for themselves.
I read that on Wikipedia too; and I've seen the issues mentioned elsewhere too. I don't question his intellect, knowledge or experience.
This is the major point that confuses me: Laissez-faire economics would seem to mean to me that no bailout should ever have happened. Maybe it shouldn't have, and maybe the bailed out corporations were already too much in bed with the government to NOT do it.
But once taxpayers' money has been provided to corporations, I wonder why Sowell is not on the side of the angels who want to limit the misuse of that money.
Laissez-faire and trickle down are in the same category . . . I think . . . aren't they? Haven't you seen the effects of uncontrolled marketing in your own business, in the milk distribution coops that gobble up other coops?
I don't know; I'm just asking.
June, I guess it depends on how much government interference you want in every aspect of life. We are in bed with the devil in the dairy industry because they regulate what we do so we cannot make a profit without kissing up to them. I don't like it though and I didn't like the bailout or anything about it.
You probably aren't familiar with the Northeast Dairy Compact, which was a premium paid to farmers in the New England states. It was a pretty neat program because it took the extra money paid to the farmer from the market, not the government. Thus while not allowing processors to grab all the profit in milk production, it allowed supply and demand to work to the benefit of the farm producer. It generally only added a couple of cents to the price of a gallon of milk.
It worked pretty well.
The government replaced it with the MILC program which reacts in a similar manner except the tax payers foot the bill. I hate it but I still take the money because it is that or quit. Still I would MUCH prefer to see the Compact reinstated and tell the government to keep their money. Now the government is doing a so-called bail out of our industry. I don't like either, but the same goes. It wouldn't be needed if laws already written were enforced.
I love Thomas Sowell. He uses logic and reasoning which many people aren't familiar with.
The government replaced it with the MILC program
***
why'd the government do that?
June, well, the processors didn't like it because they had the option of either eating the cost or passing it along to consumers, thus potentially affecting demand and THEIR bottom line. After all, before there was such a program they had quite a lot of control over how much money stayed in their coffers. Also some Midwest farmers lobbied against it because although it wouldn't hurt them it didn't help them either. (They sell most of their milk for cheese so they are not affected one way or the other by fluid programs.)
Beyond that I have no idea why the government preferred to put a tax-payer funded program in place of a market driven one.
Since this morning I've been reading about the Northeast Dairy Compact, and in the process, reading a lot of other dairy industry info.
Thanks for the education.
I heard that there is a movement to remove all crosses from public land. There is a case before the courts now in some states. This would mean all the crosses on veterans graves would have to be removed. This would be a shame and a great expense to our country.
An excellent article. Thanks for posting, 3C.
And just to throw in my two cents on milk prices and such?
If the government got completely OUT of the pricing business and let the market run things, farmers would be a lot better off. You'd be able to watch the market prices and decide for yourself how many cows to milk or what crops to plant.
I think farmers are pretty smart people that could manage this without the "help" of government - and do a heck of a lot better job at it.
I'm on a rant and roll, today, I guess.
Jan, sorry I skipped your comment for some reason. I like him too. He thinks! That is so rare today. Wish he was in our local paper more.
June, thanks for reading about it. The food industry in general and the dairy industry in particular are so complicated that after over thirty years in the business I still feel ignorant. Visit John Bunting's blog, which has a link in the sidebar, if you really want some in depth analysis of what is going on. John is a writer for a dairy publication, the Milkweed as well as being a NY dairyman, and he literally teaches me something new every day
Anon, that is outrageous. Just another aspect of rewriting history in the name of being PC
Akagaga, you can rant any time you want to as far as I am concerned.
The idea of removing all crosses from public land is outrageous. Fortunately, it isn't true.
http://www.snopes.com/politics/religion/cemetery.asp
June, thank you for taking time to look that up. It would have been pretty awful and I would have hated to see it.
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