Right, and it follows to other sectors too, from mining to agriculture most of all. The IMF and WTO are always trying to get countries to kill their subsidies to their agriculture, and when they do emergency loans they will force them to get rid of it, their farmers go out of business, and they are at the mercy of buying food.
Countries need to keep their own capacity, this idea that all subsidies are bad and let the market decide is preposterous, and any true free market with no controls degrades into a monopoly or oligopoly gouging everyone. Capitalism without controls doesn’t work, capital is too greedy to do what is in their own interests let alone that of society.
Right, and it follows to other sectors too, from mining to agriculture most of all. The IMF and WTO are always trying to get countries to kill their subsidies to their agriculture, and when they do emergency loans they will force them to get rid of it, their farmers go out of business, and they are at the mercy of buying food.
Countries need to keep their own capacity, this idea that all subsidies are bad and let the market decide is preposterous, and any true free market with no controls degrades into a monopoly or oligopoly gouging everyone. Capitalism without controls doesn’t work, capital is too greedy to do what is in their own interests let alone that of society.