Cash for Clunkers Program Is Like Burying a Pregnant Cow

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Sturm College of Law


Cash for Clunkers, Great Depression, Farm subsidies


In 1933, the U.S. government implemented a Depression-era policy of “keeping prices high” by not only requiring that that farmers be paid not to grow food, but mandating the destruction of existing crops, the plowing up of cotton, and the killing of pigs and pregnant cows-all at a time when millions of Americans were going hungry.

Such misguided depression-era policies so alarmed the concern of British economist John Maynard Keynes that he wrote a letter to President Roosevelt pleading that Roosevelt adopt a policy of increasing demand rather than a populist agenda of reducing supply.

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