How to Keep Milk Prices Low by Raising Them (Michael Tennant)
Monday February 4th, 2013
Suppose you’re a bureaucrat charged with regulating the price of milk so that the people of your state — the ones who are forced to pay your salary — can enjoy a glass of moo juice without having to take out a loan. Now suppose you find out that a supermarket in your state is selling a gallon of milk for more than a dollar less than competing stores. What do you do?
If you’re Louisiana Agriculture and Forestry Commissioner Mike Strain, you force the market selling the cheap milk to raise its prices. Then, with a straight face, you tell the public that you did so “to keep the price of milk as low as possible.”