Farm subsidies under fire

The Financial Times reports that generous farm subsidies in the United States and Western Europe are increasingly beleaguered. If the US and Europe don’t voluntarily eliminate the unfair advantage their agriculture producers enjoy in the global market, then developing nations are likely to take legal action through the WTO. No one wants to see American agriculture destroyed, but the injustice of developed-nation subsidies in light of the struggles of developing-nation farmers is hard to deny. The ramifications of ag subsidy reform are debatable, but many have argued that it will help rather than hurt smaller farms in the US. We may find out soon.