The United States has more in common with the European Union than we might like to think, libertarian law professor Richard Epstein writes in his weekly column. He mentions the Agricultural Marketing Agreement Act of 1937:
Once prices are stabilized for the exclusive benefit of farmers, the inherent risk of variable agricultural prices (often controlled by the weather) is not magically removed. Rather, it is transferred by government fiat to the rest of society that bears the burden either in the form of higher taxes or higher prices.