What follows is an attack on the corn lobby and I've deliberately waited until the Iowa cauci are behind us because this serves as an illustration of how special interests get away with spending other people's money. They keep a relatively low profile and don't get so greedy that they attract unwanted attention. Oh, and this post is also about economics.
Economists spend a great deal of time and effort studying the effect of incentives on people's economic behavior. When I decided to study economics in depth by taking a class in both macro and microeconomics at my local community college I encountered the word, defined variously, waiting for me around many corners and often hiding behind rocks, trees, hedges and the like. The most fundamental definition of the concept I encountered was when my fellow aspiring scholars and I were taught, early on, that all things being equal, higher prices = fewer sales, lower prices = more sales. Who knew?
But all things considered, at least the ones we've thought of/are aware of, it won't rain today, unless it does.
The Republicratic party is the party of small government and maximum freedom. Think rugged individualism personified by a proud Iowa farmer sitting on the front porch of his rustic but meticulously maintained farmhouse. He's sipping coffee from an ISU coffee mug and watching the sun rise over the seemingly endless acres of corn fields that have been worked by his family for generations. He's a happy man. Being on the receiving end of the high corn prices guaranteed by The Gubmints byzantine tangle (google ethanol subsidies and try to make sense of what you find, I double dog dare you) of subsidies, programs and regulations will do that for a fella. He, his lovely wife Connie, his all-American family and almost everyone he knows personally, vote for republicrats. Hell, his dog would vote for republicrats if it was legal to do so. Unless, of course, the republicrat in question was one of the poor misguided souls that don't understand the ethical nuances involved and objects to the fact that everyone that eats corn is helping to pay Juniors tuition at ISU (it's a family tradition). If you're unaware of Iowa's popular republicratic governor, Terry Branstad (recent beneficiary of 15 minutes of national fame) and his son, Eric Branstad (that works with a group called America's Renewable Future), googling will provide a much more entertaining and easily understood narrative than trying to make sense of the ethanol debacle.
The Depublican party, the party of ginormous gubmint and Gubmint and tossing all the money into a giant pot to then be divvied up equally by all the kids on the playground (some kids are more equal than others) also stands with the corn farmers. The Billary, who opposed subsidizing corn farmers when she was in the senate, has since seen the light. Interestingly, the Algore, once a supporter, now stands in principled opposition. Having FU level wealth, squared (net worth estimated by Forbes to be at least $300,000,000, even richer than the party's 2012's designated poster boy of greed, Maleficent Mitt), and no longer interested in running for public office, affects some people that way.
Here comes the best part.
There's a big, honkin' fly in the bipartisan
What have you learned
Have an OK day.
©Mark Mehlmauer 2016
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