This is the Cato Daily Podcast for Monday, August 11, 2008. I'm Caleb Brown.

The Doha Round of Trade Talks died in part over fears of continued agricultural subsidies to U.S. farmers and those subsidies impact on India

and China.

Don Boudreau, author of the new book Globalization and a Cato Institute adjunct scholar,

says complaining about subsidized grain is a little like

complaining when someone else picks up the check for dinner. In the now

defunct Doha round of trade talks India made a big point in fact the talks broke up

over the fact that India was very concerned about a massive influx of

agricultural goods that would harm the industries that

industry that exists in India today and at a 30,000 foot level that makes a

pretty good amount of sense. This is a story where I think there are no

heroes on either side. I certainly oppose for well-known reasons, reasons that are well known to any one of common sense,

the subsidies that the US and Western European governments bestow upon the agricultural classes in this country. It distorts the food

market unnecessarily. But on the other hand the typical argument that you hear that, well, you know, this is hurting poor countries to the extent that it makes grain cheaper for them is rather bizarre.

It no doubt hurts their farmers, but gee if a new

technique were developed, and we have a second green revolution which some people

are talking about.

That too would hurt some of their farmers.

The Indian government, if it truly cared about its citizens welfare in general, shouldn't be, shouldn't complain about American or European

agricultural products coming into India too cheaply.

It should applaud that. Of course there are concerns about well you know maybe

America is dumping those the grain in India now but it'll stop in the future

...