Redstate

By Pejman Yousefzadeh Posted in Economy | Free Trade | The Food Price/Inflation Crisis — Comments (0) / Email this page » / Leave a comment »

I am surprised that it has taken this long, but finally, we have some press attention on the fact that shortage and price concerns relating to the food supply will be tremendously alleviated if we finally resolve to implement free trade practices. Tyler Cowen--whose intellectual rigor and peerless advocacy are, as always, tremendously appreciated by those who reject the Dark Side of the Force and its attendant policy agenda--makes this very case here. By all means, be sure to read the whole thing, but if you want an excerpt to sum things up, here it is:

Lately, it's become fashionable to assert that, in this time of financial market turmoil, the market-oriented teachings of Milton Friedman belong more to the past than to the future. The sadder truth is that when it comes to food production -- arguably the most important of all human activities -- Mr. Friedman's free-trade ideas still haven't seen the light of day.

Quite emphatically so. And the longer policymakers decide to remain troglodytes, antediluvians and Sith Lords about the matter of trade policy, the food price/food supply crisis will continue.