Comments on economics, mystery fiction, drama, and art.

Wednesday, May 07, 2008

Annals of International Trade

As Dave Barry used to say in his columns, I am not making this up:

"The U.S. baking industry's trade association, representing firms such as Kellogg Co., Sara Lee Corp. and Interstate Bakeries Corp., plans a march on Washington by the firms' employees later this month to press for a reduction in U.S. wheat exports."

Yep. With wheat at $18 a bushel, times are hard for Sara Lee. And so they turn, in typical free-market fashion, to government invervention intended to push their costs down and make someone else--wheat farmers, people in countries (like Mexico) that import wheat--worse off. It's almost beyond satire.

From Felix Salmon via Paul Krugman.


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