Sunday, February 3, 2013

Rotten Tomatoes

Mick: You know what you are?
Rocky: No, what?
Mick: A tomato.
Rocky: A tomato?
Mick: Yeah, and I'm running a business here, not a goddamn soup kitchen."
--Rocky

Classic example of Bastiat's "That which is seen, and that which is not seen." What the reader 'sees' is assistance to US farmers who are less efficient than Mexican tomato growers, as well as claims about less chance of a 'trade war' with Mexico.

But this is a trade war--a war on free trade. And US farmers are lining their pockets with prices fixed above market rates. US consumers lose.

Note also that this 'factual' piece from the Chicago Tribune completely ignores that side of the story. For example, a straightforward question any balanced reporter would ask is, "How much more will American consumers have to pay for tomatoes as a result of this trade agreement?" Or, "How much business will Mexican farmers lose because of the price supports?"

As written, this story belongs on the editorial page rather than in the business section.

Intentional or not, this is a prime example of media slant likely to influence reader thought. A one sided story factually presented as 'news.'

1 comment:

dgeorge12358 said...

A government that sets out to abolish market prices is inevitably driven toward the abolition of private property; it has to recognize that there is no middle way between the system of private property in the means of production combined with free contract, and the system of common ownership of the means of production, or socialism. It is gradually forced toward compulsory production, universal obligation to labor, rationing of consumption, and, finally, official regulation of the whole of production and consumption.
~Ludwig von Mises