Wednesday, February 18, 2009

No, that didn't work either....

Megan McArdle:
"Good luck. Attempts to fix the prices of agricultural commodities at artificially high levels were one of FDR's ideas that probably prolonged the Great Depression. In deflationary times, the last thing you want to do is keep the staple food commodity of your nation's poor at artificially high levels, even if that does help the farmers."

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