Australia’s food security is threatened less by the drought than by long-term falling farm profits. Patrick J. Byrne reports.Around the year 2000, Queensland University of Technology economist, Dr Mark McGovern, presented to farmer forums figures showing the declining value of net farm production, i.e., the total sum of all the profits of Australian farmers. (See latest version of these figures on News Weekly’s front cover and below. Source: Australian Commodities, ABARE Canberra, 2007).Dr McGov…
