From Bloomberg, some bad news for small farmers fighting agribusiness giant, Monsanto. Libertarians shouldn’t fall into the trap of thinking that adoption of the precautionary principle is anti-libertarian. It’s not. How can any company give an assurance that it won’t do substantial, irreversible damage to other people’s property through pollination of other alfalfa strains? It cannot. Thus, any assurance that it can is patently fraudulent. Besides, Monsanto, like BP and Goldman Sachs, is a state-created, state-subsidized crony-capitalist outfit and not a product of the free market anyway. Continue reading →