The common agricultural policy is a product of the european union. It was first introduced in 1962, and since then has grown considerably. It consumes a massive 42% of the EU’s budget when only 5.4% of the EU population work on farms.
One man has been fighting against the absurd policies of the CAP for many years in the european parliament: Stewart Agnew. He is a UKIP MEP and also a farmer in the UK. Here is a selection of videos of his fight against the CAP:
Dan Mitchell has come up with simple but effective rules which should be adhered to by every single nation on this planet.
Firstly, his golden rule:
Good fiscal policy exists when the private sector grows faster than the public sector, while fiscal ruin is inevitable if government spending grows faster than the productive part of the economy.
Secondly, Mitchell’s law:
This term, which I am modestly calling Mitchell’s Law, describes what happens when government intervention (Fannie and Freddie, for example, or Medicare and Medicaid) causes problems in a particular market (a housing bubble or a third-party payer crisis), which leads the politicians to impose more misguided intervention (bailouts or Obamacare).