Monday, February 24, 2020

Ending Big Finance's hold on farm communities

I know that most of what I post about farming these days isn’t very positive. This has some ideas.
Yet both the narrative that subsidies flow from “coastal elites” to farmers and the fatalism about rural economic decline indicate a profound misunderstanding of what’s actually going on. Farmers have as much reason to be angry, if not more, because of the larger, less visible financial flows heading in the other direction, sucked out of their pockets and funneled to the big money centers, often into offshore tax havens. This is part of a broader phenomenon affecting the entire economy, which I call the finance curse. The good news is that this can be decisively reversed without turning the clock back on progress—and with transformative economic and political results. - The Nation

No comments:

Post a Comment