Discussion in 'Economy' started by Kevin_Kennedy, Apr 8, 2009.
Deliberately Misplaced Blame - Sean W. Malone - Mises Institute
I sit here and look around the area and back to the year we planted soy beans in our field next to the house/shop. It was a farming experiment for me. I had heard that soy beans also add nitrogen to the soil so it sounded like a good thing to plant.
The seed cost was a few hundred dollars. A friend planted the seed at no cost to me. The crop was outstanding even though no chemicals were used and weeds grew with the beans. It came time the field needed to be harvested and no one wanted to harvest it for me. So the beans grew again the next year on their own. It was an even bigger crop the next year. I figured just let it keep self seeding what the heck. Then a guy came along and asked if he could harvest it for me for half. So I let him. The beans sold for a few hundred dollars more than the original seed had cost the year before. About double. I was told by several people that the yield was exceptionally high.
It all got me to wondering why in the world world anyone want to be a farmer. The cost of chemicals, seed and equipment to eat dust for a living and not even make enough to pay for the taxes on the land?
It did not occur to me that farmers recieve subsidy and assistance for planting the crops and without subsidies they would go broke.
So then I began to ask who really is being subsidized? Is it the farmer or the seed or is it the chemical companies?
The next step was looking at who owns these corporate entities. Mind boggling or is it simply greed in the vicious cycle people who are supposed to have liberty have allowed to grow?
That was a famous speech by Herbert "Fucking Idoit" Hoover! Calling Hoover a Free market supporter is a very misleading, since as Commerce Secretary he had taken an active pro-regulation stance and he actively campaigned for more regulation (which wasn't a totally out of line since look how market crash 8 short months after he took office and the G.D. started right after it) and he even denounced laissez-faire thinking. He expanded the Federal Government to massive levels! He was in power during the passing of the Smoot-Hawley Tarriff Act! He was also in power for the Revenue (Increased Tax) Act of 1932 - This was one of the biggest tax increases in history on individuals and corporations! It spurned on the G.D.!
He was a bad bad bad President!
It would make more sense if capitalism was characterized by free markets.
I'll guess Hoover. Rather than pushing real Govt intervention that might have made a difference, he proposed things to private business in the hope that private business would work its way out of the growing recession. And then, aside from passing a disasterous tariff, sat back while the economy went down the tubes.
Putting aside the tariff, he was like modern day Republicans, yammering like a bunch of chicks in the nest about the Govt's interventions to avoid a repeat, arguing that the Govt should stay out of it like it did until 1933.
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