Cotton Wars - NPR’s Planet Money
Did you know that the US Cotton industry gets the US taxpayers to subsidies all of their cotton so that their prices can stay competitive with the global market price?
But that’s not enough because Brazil sued the US Cotton Industry and won. So the US Cotton Industry lobbied the Obama Administration and Clinton’s State Department and got them to pay the Brazilian Cotton Industry a $150 million dollars a year in subsidies so Brazil will look the other way.
Doesn’t make sense? It shouldn’t, yet this is how the US agriculture industry works when it has to run on subsidies.
Brazil now waits, smartly, while they collect our money. I assume they are just waiting for our government to go bust so they can go on growing cheap, coveted cotton and lead the industry.
“Paying workers to dig holes with spoons and fill them back in with forks and calling that productivity.”