The Corner

Sweet Deal?

A lot depends on the details, but I think the buyout of U.S. Sugar is a great idea. The sugar industry is the biggest bunch of rent-seeking corporatists out there. They couldn’t survive without subsidies, they don’t help consumers and their policies are rotten for the environment (See Jason Steorts’ 2005 cover story for more). The state didn’t seize the company, but offered what the executives considered to be a fair price  (again, we need some more details on all that). The federal government stayed out of the whole thing (state interventions at the state level bother me much less), and the result will likely be a much improved environment for Floridians who will have to pay the price for the loss of jobs themselves. 

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