You mean subsidies create distortions?!

The only thing worse than seeing tax dollars going to subsidise an industry thanks to skillful lobbying is seeing the dollars go into a declining industry, as with fishing in Britain. The number of British fishing boats, fishermen, and the value of their catch has declined by nearly 50% in recent years, while subsidies grew by 50%. In a most dubious honor, fishermen each rake in 30% more subsidy than does a British farmer. Well, you know they say that in the subsidy game, nothing succeeds like failure. . .

Adrian Moore

Adrian Moore, Ph.D., is vice president of policy at Reason Foundation, a non-profit think tank advancing free minds and free markets.