Saturday, November 22, 2008

France Fails It

Where 'it' is Capitalism.

'Speaking before the deal was reached, French Agriculture Minister Michel Barnier said he would "not allow the milk quotas to be scrapped without accompanying measures, precautions being taken".

"Some would like to lift all restrictions on milk production. We know perfectly well that if we produce a lot more, the prices drop, and everyone loses."'

What? Everyone loses? What about me, the consumer, the person who creates the demand for the milk in the first place, now paying less for my milk? Hell, I might even buy more. Milk is quite an elastic product.

It's an alarming sign of how the big economies on the continent are being run: an awful kind of Atlas Shrugged economics.

Source: BBC News