Transatlantic GI’ing Consumers Politicians on both sides of the Atlantic protest big business and their sacrilegious capitalism. Yet sometimes it is government screwing the consumer to boost private profits. Parmigiano Reggiano was a prized and premium priced cheese before obtaining the EU’s official stamp of Protected Designation of Origin (PDO). Consumers are led to believe that place (terroir) is important and pay the price. Since it is a government order, it is a tax on the public’s geographic frailties. EU politicians may be disappointed that even with terroir certificates in hand, European farmers still complain. The latest EU campaign on behalf of its farmers has the tagline, “More than food and drinks, savor...

TAGS – North America, Macroeconomics