{"id":9796,"date":"2013-12-17T05:01:46","date_gmt":"2013-12-17T10:01:46","guid":{"rendered":"http:\/\/marcfbellemare.com\/wordpress\/?p=9796"},"modified":"2013-12-16T20:20:27","modified_gmt":"2013-12-17T01:20:27","slug":"8-for-a-gallon-of-milk-not-so-fast","status":"publish","type":"post","link":"https:\/\/marcfbellemare.com\/wordpress\/9796","title":{"rendered":"$8 for a Gallon of Milk? Not so Fast."},"content":{"rendered":"<blockquote><p>If Congress does nothing, the status quo will revert back to the original 1949 law \u2014 which was based on a complex formula dating back to the pre\u2013World War I era, when the earnings of rural farmers and city dwellers were much closer than they are today, says Marin Bozic, an assistant professor in dairy-foods-marketing economics at the University of Minnesota.<\/p>\n<p>This means the USDA would have to pay dairy farmers about twice as much as it does now. But that doesn\u2019t mean $8 milk for a few reasons:<\/p>\n<p>Congress will probably get its act together. We\u2019ve been down this road before, and dire predictions of $8 milk came to naught. &#8220;This is <em>Groundhog Day<\/em>,&#8221; Bozic says. &#8220;We woke up, and there\u2019s the same song on the radio. If we don\u2019t get the new farm bill, we\u2019ll get an extension.&#8221;<\/p><\/blockquote>\n<p>My friend and colleague Marin Bozic, quoted in a <em>Time<\/em> <a title=\"People Are Freaking Out about $8 a Gallon Milk\" href=\"http:\/\/business.time.com\/2013\/12\/11\/people-are-freaking-out-about-8-a-gallon-milk\/\" target=\"_blank\">article<\/a> last week. The article also features a quote by Andy Novakovic, who was director of the Department of Applied Economics (as it was then known) at Cornell when I began my PhD.<\/p>\n<p>In case you have an interest in dairy markets and policy, Marin has a <a title=\"Marin Bozic Blog\" href=\"http:\/\/marinbozic.info\/\" target=\"_blank\">blog<\/a> dedicated almost entirely to that sector of the economy. And unlike my usual touch-and-go brand of blogging, Marin actually does serious research for his posts!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>If Congress does nothing, the status quo will revert back to the original 1949 law \u2014 which was based on a complex formula dating back&#8230;<\/p>\n<div class=\"more-link-wrapper\"><a class=\"more-link\" href=\"https:\/\/marcfbellemare.com\/wordpress\/9796\">Continue reading<span class=\"screen-reader-text\">$8 for a Gallon of Milk? Not so Fast.<\/span><\/a><\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-9796","post","type-post","status-publish","format-standard","hentry","category-uncategorized","entry"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p1gPg8-2y0","_links":{"self":[{"href":"https:\/\/marcfbellemare.com\/wordpress\/wp-json\/wp\/v2\/posts\/9796","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/marcfbellemare.com\/wordpress\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/marcfbellemare.com\/wordpress\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/marcfbellemare.com\/wordpress\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/marcfbellemare.com\/wordpress\/wp-json\/wp\/v2\/comments?post=9796"}],"version-history":[{"count":5,"href":"https:\/\/marcfbellemare.com\/wordpress\/wp-json\/wp\/v2\/posts\/9796\/revisions"}],"predecessor-version":[{"id":9801,"href":"https:\/\/marcfbellemare.com\/wordpress\/wp-json\/wp\/v2\/posts\/9796\/revisions\/9801"}],"wp:attachment":[{"href":"https:\/\/marcfbellemare.com\/wordpress\/wp-json\/wp\/v2\/media?parent=9796"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/marcfbellemare.com\/wordpress\/wp-json\/wp\/v2\/categories?post=9796"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/marcfbellemare.com\/wordpress\/wp-json\/wp\/v2\/tags?post=9796"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}