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August 7, 2002

Market discipline is for other people Nick Denton, possibly blogdom’s most eloquent advocate of free trade, notes:
As Paul O’Neill lectures Argentina and Brazil on government spending, some contrition would be in order. A Brazilian rancher’s production costs are a third to half those of his American counterpart, according to Beef Magazine. So why aren’t Brazil and Argentina exporting their way out of financial difficulty? Because the US government, while teaching the world about free markets and spending discipline, is busy increasing subsidies to domestic beef farmers.
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Comments on Market discipline is for other people:

The Talking Dog ::: (view all by) ::: August 08, 2002, 06:15 PM:

With all due respect to Mr. Denton, The Talking Dog displayed ITS free market gravitas nearly 5 days earlier here, with this insanely boring enunciation of economic principles brought into play with respect to tariffs: http://www.thetalkingdog.com/#August 2, 2002, New York, New York
Basically, the same point was made by TD, only in a more boring way- and five days earlier.
But Nick Denton is still, right, of course.