Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Business Roundtable Perspectives: No. 472, July 2011

Business Roundtable Perspectives: No. 472, July 2011

The Department of Food Subsidies
By Victor Davis Hanson
23 June 2011

The Department of Agriculture no longer serves as a lifeline to millions of struggling homestead farmers. Instead, it is a vast, self-perpetuating postmodern bureaucracy with an amorphous budget of some $130 billion – a sum far greater than the nation's net farm income this year. In fact, the more the Agriculture Department has pontificated about family farmers, the more they have vanished – comprising now only about 1 percent of the American population.

Net farm income is expected in 2011 to reach its highest levels in more than three decades, as a rapidly growing and food-short world increasingly looks to the United States to provide it everything from soybeans and wheat to beef and fruit. Somebody should explain that good news to the Department of Agriculture: This year it will give a record $20 billion in various crop "supports" to the nation's wealthiest farmers – with the richest 10 percent receiving over 70 percent of all the redistributive payouts. If farmers on their own are making handsome profits, why, with a $1.6 trillion annual federal deficit, is the Department of Agriculture borrowing unprecedented amounts to subsidize them?

Click here to read article.

This article was published by Townhall.com on 25 May 2011.

Articles in the Perspectives series plus a large library of books, studies, speeches, articles and DVDs on a wide range of public policy issues can be found at www.nzbr.org.nz

Related studies and commentary:

The Role of the State in an Era of Globalisation
The 2004 Sir Ronald Trotter Lecture
By Martin Wolf
[Full text]

Free Markets Under Siege: Cartels, Politics and Social Welfare
A report published by the New Zealand Business Roundtable
13 October 2003
By Richard A Epstein
[Full text]

A Vision for Agriculture
A speech given to the Wairarapa Agricultural Seminar
19 July 2001
By Roger Kerr
[Full text]

Free Trade or Fair Trade: What’s Best for New Zealand?
A speech given for the University of Waikato Management School Public Seminar Series
8 August 2000
By Roger Kerr
[Full text]

New Zealand’s External Economic Policies
A report published by the New Zealand Business Roundtable
June 1997
By David Henderson
[Full text]

*************
 
 
 
 
 
Business Headlines | Sci-Tech Headlines

BUDGET 2012:
Parliament Debate Live - Video Of Budget 2011
Keith Ng Interactive Graphic: How the Budget Breaks Down
BUDGET 2012 - FULL COVERAGE: Reports / Analysis - Press Kit - Reaction (from everybody) - Previews (from everybody) - Pre-Budget Announcements

Gordon Campbell: On the Budget’s Spreadsheet Victories

It wasn’t as if expectations were sky high, exactly. Chances are, it was always more likely that we’d be seeing Bigfoot rampage through the Beehive lock-up than catch a glimpse of a credible growth agenda from this government. More >>


Sludge Budget Report - Short The Dollar! MEMO: To international bankers FROM: C.D. Sludge Please short the dollar! It'll be good for both you and us. And you know you want to. Greexit, Eurogeddon... watch out... flight to quality and all that. Follow your instincts. The NZ Debt Management Office has been so surprised at the unprecedentedly low interest rates that it can borrow at that it has already entirely pre-funded the 2013 fiscal deficit - all $8 billion of it! More >>

Pattrick Smellie Comment: Doddling along the best we can hope forCriticising Budgets for lacking vision or imagination is like shooting fish in a barrel, but even so, this year's Budget again feels like a missed opportunity. Perhaps it's the intrusion of real world needs that means the government couldn't make better political use of the $558.8 million it expects to gather in its first partial asset sale. More >>

 

BusinessDesk: NZ dollar hits 6-mth low, revives, as EU meets; budget looms
The New Zealand dollar climbed from a six-month low as European Union leaders meet amid talk Greece could leave the euro zone and ahead of the budget locally which is expected to chart the route back to fiscal surplus. More >>

Also:

EARLIER:


Media: Quickflix welcomes probe of Sky TV content deals
ASX-listed Quickflix has welcomed the New Zealand antitrust regulator's probe into Sky Network Television's content deals with internet service providers, saying the issues raised by the Commerce Commission are "serious and real."

Sky's shares sank 8.3 percent to a two-and-a-half month low $5 after the regulator said it will investigate the pay-TV operator's contracts with ISPs and potential barriers to accessing content. The announcement was made after the commission approved a joint venture between Sky and state-owned Television New Zealand to launch a budget pay-TV platform, Igloo.More >>

ALSO:


Fruit FlyMPI: No Fruit Fly Outbreak Detected to Date as Actions Continue
The Ministry for Primary Industries (MPI) reports that testing on samples from fruit fly traps in the Auckland Controlled Area has so far shown no sign of further fruit flies.

However as a precautionary measure, the Ministry continues a large field effort to ensure that if any of the pest insects are present, they are not able to spread from the Avondale area where the one male fly was found last week.
More >>

ALSO:

 
 
 
 
 
Business
Search Scoop  
 
 
powered by newsagent
NZ independent news