farm subsidies ...
OK, one of the key topics with the G8 summit is the use of farm subsidies. The idea being that they essential hurt the growth potential of third world countries whose economies are principly agrarian. This makes perfect sense to me. The subsidies create an artificial price for which the agricultural products of first world countries can be sold, both domestically and internationally. The problem though, as I see it, is if we remove farm subsidies from first world countries, those countries are essentially penalizing the part of their economies that have already been hardest hit by first world development. Just a quick thought.