I had heard that rocket science was considered to be a complex discipline but economics seems to be more complex than that. Not only is it complex but some of its principles are immoral. The theory of supply and demand rationalizes the exorbitant charges levied by a neurosurgeon or a cardiosurgeon. A software engineer takes home enough money to spend in a mall and enjoy a movie in a multiplex because the company for which he works can make profits that many a times exceed 100% but still competition is a necessity for value-addition. So, how do we balance the trade-off between profit making for value addition and morality.
A related question is whether the farmers can come together and sell their products at exorbitant prices that can make them rich. We can call them capitalist farmers. Probably, the state will immediately step in to control the prices and the difficulty also lies in uniting these farmers as one unit. Farmers can afford to charge exorbitantly because food is a basic necessity. Even a software engineer or a neurosurgeon will not be able to function without food. These “professional” individuals also lack the skills to grow their own food. So, when we speak of subsidy for farmers, bail out for farmers and minimum support for farmers as a dent in the tax payer’s income, we should not forget that we are not doing a favour. In fact, it is the farmer’s right.