Chaos In Milk Supports

USA has Byzantine milk market orders, as does Greece.  As Greece fails, these programs become excruciating...

Reuters explains that Greece's government risks another rebellion over bailout terms this week after milk producers lobbied against a move to free up prices as part of efforts to make the economy more competitive. Basically, for Greeks, milk is fresh if it is 5 days old or less, yet according to the always fascinating codex of the Troika, "fresh" can be labeled anything that is as old as 11 days.... including the salmonella bacteria it contains. What's worse, is that the "spoiled milk" scandal, far from a joke, has swept over the country, and now even threatens to topple the government.

To top-down manage an industry is to cause such malinvestments and misallocation that most involved are destroyed as what cannot go on eventually ends.  This is yet another example of the chaos the State brings to the markets.  Small producers will now go to the black market, and there they will escape the chaos to anarchy, and get just compensation for their goods.  Better to remove all milk supports now and let the market sort itself out.  Meat is back on the menu.

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