even under capitalism, this is ridiculous. it’s not perishable, keep it around for a price resurgence, use old stock to fill out shelves while drawing down production.
Misleading headline, see other comments
Wine, grapes… Steinbeck warned us, bro. Told us, dog.
Why not just give it to me? I’ll take it!
This isn’t as unbelievable as the headline would make you believe really. It says the government is buying 200 million in wine stock (almost certainly lower quality wines) and repurposing the alcohol for use in other products. It’s not like they are destroying it to keep demand for wine higher, they are buying it to try and keep the french wine industry strong.
I was imagining trucks of wine being dumped into the river, but the government buying it to subsidize the industry during a slump is a classic keynesian move. That doesn’t mean it won’t end up getting dumped when they realize they don’t have any use for it though.
u can keep any industry strong with free taxpayer money
The French alcohol industry exported around $17.2bn worth of wine and spirits last year. The EU provided €160mn towards the purchase of excess wine and the French government provided the remaining €40mn. The wine industry is one of France’s biggest exports and is also one of significant national pride. For them to spend an amount that’s relatively quite small to help strengthen their prized industry by buying and repurposing excess wine is really not the unbelievable act a headline would have you believe.
good for them. hope those industries pay their dues to the goverment
Fuck me, it literally says the funds will be used to recycle it and support the viticulteurs
Also 200M is a drop in the ocean for french wine
Title is extremely misleading
Yea, seems like socialism is used to bail out capitalism yet again.
They run this story every year or two. Its standard operating procedure in France and has been for decades.
