Thursday, April 10, 2008
Found on Krugman's Blog
From the Telegraph:
In parts of Helmand Afghan farmers are this year sowing wheat instead of poppy - not because they have suddenly been converted to the argument that producing heroin is not in the national interest.Some would praise this miracle of the free market, I say no one on Wall St would be smart enough to go short on smack and long on wheat.
Market forces have been the deciding factor - with wheat prices doubling in the past year, and the street price of heroin falling, it is now more cost effective to grow wheat.
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