Quote of the Week
By Ocean on May 7, 2008 in Articles of Interest
From the Washington Post’s article, “The New Economics of Hunger“:
Last week, French Agriculture Minister Michel Barnier warned E.U. officials against “too much trust in the free market.”
“We must not leave the vital issue of feeding people,” he said, “to the mercy of market laws and international speculation.”
We would like to remind our readers that the EU’s Common Agricultural Policy (CAP) comprises the biggest part of the EU Budget, and France is the leading beneficiary. 44% of the EU’s budget goes towards the CAP, for an industry that represents 3% of the EU’s GDP. So a man-made inefficient allocation of resources is how the vital issue of feeding people is dealt with by the French agricultural minister.




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