I recieved an email a month or two ago from someone asking me to take a look at an infographic that was produced for the site LearnStuff.com. For those of you who are already aware of the economic effects of government subsidies, the implications of the graphic will not surprise you, but the degree to which corn subsidies have become a problem will become far more apparent.
Rather than go into heavy details about how that played out, I would like to simply say up front that this is one of the most amazing infographics I have ever seen in my life! Take a look and prepare to be amazed, angered, and awakened:
I would argue that the implications of this graphic go far beyond corn subsidies. In fact, just about any handout leads to an overproduction of a given good at a much higher total price (when you include the tax dollars spent in the whole picture) at the expense of other desired goods. In the future I might decide to do a post dedicated to a myriad of government subsidies that exist today, but for now I would like to finish this post off with a final indictment of corn subsidies as well as government interventions in the economy in general:
I hope the folks within the Occupy Movement take this to heart: The biggest source of corporate power is the very institution they insist on running to for help.