date:Dec 20, 2018
n recommended that the U.S. abandon protective tariffs and instead adopt an even more extreme solution: a complicated system of production quotas that divided up the sugar market between domestic producers of cane and beet; territorial producers of cane; and the balance reserved for Cuba.
This was akin to Soviet central-style planning, but it became enshrined in law thanks to Sugar Act of 1934, which created detailed production quotas, as well as a system of benefit payments designed to provide