Barney Frank: Defender of Free Markets

On the heels of George McGovern’s defense of big business, we have Barney Frank extolling the virtues of a free market in the face of GOP reluctance to cut agricultural subsidies. (Via Instapundit -> Club for Growth).

Mr. Chairman, I am here to confess my reading incomprehension. I have listened to many of my conservative friends talk about the wonders of the free market, of the importance of letting the consumers make their best choices, of keeping government out of economic activity, of the virtues of free trade, but then I look at various agricultural programs like this one. Now, it violates every principle of free market economics known to man and two or three not yet discovered.
So I have been forced to conclude that in all of those great free market texts by Ludwig von Mises, Friedrich Hayek and all the others that there is a footnote that says, by the way, none of this applies to agriculture. Now, it may be written in high German, and that may be why I have not been able to discern it, but there is no greater contrast in America today than between the free enterprise rhetoric of so many conservatives and the statist, subsidized, inflationary, protectionist, anti-consumer agricultural policies, and this is one of them.
In particular, I have listened to people, and some of us have said let us protect workers and the environment in trade; let us not have unrestricted free trade; but let us have trade that respects worker rights and environmental rights. And we have been excoriated for our lack of concern for poor countries.
There is no greater obstacle, as it is now clear in the Doha round, to the completion of a comprehensive trade policy than the American agricultural policy, with one exception, European agricultural policy, which is much worse and just as phony.
Sugar is an example. This program is an interference with the legitimate efforts at economic self-help in many foreign nations.

Wow, is this Bizzaro World? Or has another blind squirrel found a nut?

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Donald B. Hawthorne
Donald B. Hawthorne
17 years ago

What a story – Barney Frank referencing von Mises and Hayek!
It would not hurt to have some Republicans read some Hayek.
As you know, this blog site has attacked some of the worst government meddling in our lives in general and the economy in particular – regardless of political party.
We have had a lot of critical things to say about unions – which are now just another form of big business.
We have also had a lot of critical things to say about big business – such as the airline industry and the auto industry.
Congressman Frank mentions the sugar industry in his speech. It is one of the more blatant examples of corporate welfare that the Republican Congress voted through last year and we talked about it last July:
Corporate Welfare Queens: Destructive Parasites Which Deserve to Die
Simply appalling.

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