1. FARM SUBSIDIES
... a higher concentration of wealth. Ten 30,000-acre farms may produce as much food as a hundred 3000-acre farms, but the former supports machinery; the latter, community (MacFadyen 138). Farm subsidies are designed to prevent the extinction of the small farmer. Despite the social benefits, subsidies have many problems. The subsidy system is often wasteful; the government finances irrigation systems ... solved by the free market system. In a theoretical free market, overproduction would drive excess farms out of business, until equilibrium would establish itself for both price and quantity...
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- Approx Pages: 9
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