Earlier quoted context omitted.
Exactly. Anyone that thinks farming in the US is a matter of pulling out the almanac and hoping the rain will match expectations is naive at best. Here's the thought process a farmer goes through in deciding what to plant: 1. What's the expected market price for corn and soybean. 2. What is the cost of crop insurance? 3. What's the current rainfall estimate? 4. What's the cost of water via irrigation and the cost of…
So, context, I'm a libertarian. But, bear with me a moment. Why are subsidies bad? They "distort the market". How do subsidies distort the market? They cause overproduction of the subsidized good. Where an efficient allocation would tend to fairly precisely match demand to production (more precisely than any other known way of doing it), thus allowing the rest of the capital to go do other useful things, a subsidized…
There's a lot of energy lost in the process of feeding corn to cattle and turning them into burgers; you could feed more people by eating the corn directly.
So when there's going to be a corn shortage like this year, livestock go to slaughter ahead of schedule, which reduces the demand for corn, and increases the supply of meat.
On its face, eating meat is a luxury, but it actually serves an important function as a buffer against shortages.
If vegetarianism ever became a very popular lifestyle (I'd say, very roughly, if it was adopted by a majority), the risk of food shortages would increase.