The St. Louis Fed has published a concise and interesting short essay on farm subsidies. It provides some basic history, as well as a good explanation of the economics. Additionally, it provides some links to articles and data sites.
For a teacher of economics or political science, trying to explain how the program came to be and how it works, this is good basic source that many high school students should be able to understand. And if it is above your student's reading level, the article is short enough that you can summarize it during class discussion.
I look forward to your comments.
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I read the brief history of farm subsidies. Many area farmers confirmed what was written in the articles. Most of the farmers cannot understand why they are still receiving subsidies when they are earning $5+ per bu. of corn. political action groups have a strong lobby, economies of scale, federal mandates on ethanol production to combat dependence on foreign oil are some of the reasons. Most farmers do not know how the subsidies are calculated and are reluctant to admit that they receive them since most earn over $200,000+ a year. As always, your blog is a continual source of information that stimulates thought. Thanks.
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