Comment by gblargg
16 hours ago
> if we had forced the peaches to be grown and canned (as many comments are suggesting) then that would be a different kind of waste as they'd sit in warehouses while the land, resources, and labor were used to produce something people weren't buying instead of being used to produce foods they were buying.
Worse, the price would have to be lowered to bring up sales, which could put the other peach farmers into bankruptcy as well.
If you try to force production and sale hard enough, the sale price can even go negative.
If your warehouse is full of peaches nobody wants, you might be forced to sell them for negative dollars to take them away. It's either that, or you pay to have the waste management company dispose of them. So the price effectively goes negative from trying too hard to force something to happen.
If you turn all them peaches into high proof alcohol they take up significantly less space...
Similarly, in 1790s America, farmers west of the Appalachians were growing plenty of corn, but because of bad roads the only feasible way to transport it to the much larger markets east of the mountains was as whiskey. When Alexander Hamilton imposed a tax on distilled spirits, the result was a "Whiskey Rebellion" in which George Washington himself rode out at the head of an army against other American citizens.
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Super-contango
>Worse, the price would have to be lowered to bring up sales, which could put the other peach farmers into bankruptcy as well.
We run into something similar every year here in India. One recent example [1] This year it is the Middle East crisis. Last year it was probably a glut because there was shortage the year previously.
[1] https://www.ndtv.com/india-news/video-offered-rs-4-per-kg-ma...
Oh no. Lower costs for consumers? Oh the humanity!