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Unformatted text preview: and implemented “fencerow to fencerow” planting. Butz believed any overproduction should then be dealt with through exports and “free trade.” The Russian Wheat Deal and the World Food Crisis of the early 1970s gave Butz the chance to promote the false notion that free markets would be good for farmers. Butz and agribusiness giant, Cargill, along with the Farm Bureau argued that farm prices crashing would be a positive because they would be remedied by more exports and new uses such as ethanol and corn sweeteners. Prices collapsed shortly after the 1996 Freedom to Farm Act, necessitating expensive taxpayer bailouts. In 2000, subsidies provided farmers 49% of their net income, up from 13% in 1996. The $1.65 corn price per bushel received by Ian and Curt in King Corn is less than the price farmers received in the 1970s, even without accounting for inflation....
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- Spring '08
- Poverty, Earl Butz