Rich countries spend $84 billion a year subsidizing their farmers. That’s nearly as much as they spend on foreign aid, which is about $29 a year for each of the world’s 2.7 billion people who live on less than $2 a day. Poor people often get less assistance than the rich world’s farm animals. The European Union, for example, doles out almost $30 per year for each sheep living there. In Norway and Switzerland, each cow gets nearly $1,000 of the government’s money a year. These subsidies push down global agricultural prices and undermine farmers in poorer countries. Bellying up to the government’s trough has never been so costly.
The FP Index: Ranking the Rich