cross-posted from: https://feddit.org/post/3142575
this post was submitted on 24 Sep 2024
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efficiency ≠ price
you've glossed over a lot of economics. Like, for one thing, the EU gives about €55 billion in agricultural subsidies a year.
Cost of production puts a lower bound on the price. In case of competitive industries, price floats just above that limit
Right. And food is sold at below that lower bound, which is one reason it is affordable.