Price Supports

It seems there’s a glut of milk (among other farm produce) in the European markets, and milk prices are falling.

Milk producers want EU governments to prop up prices by giving more money to farmers who voluntarily cut production.

Social Democrat countries like France, Spain, Portugal, and Italy actually think this is a good idea.

What those good folks carefully decline to discuss, though, is their rationale for requiring consumers to pay artificially higher prices, instead of letting market forces take those prices to an equilibrium empirically agreed between the farmers and the consumers—without government as intervening middleman.

Oh, wait….

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