Why do we have too Much Cheese?

Guest: Andrew Novakovi?, The E.V. Baker Professor of Agricultural Economics, Cornell University Back in the days, there was a huge glut of cheese in America. Dairy farmers couldn’t sell the cheese they were making –the US Government was even buying up a lot of it to keep the bottom from falling out of the dairy industry. And guess what? We’ve got another cheese surplus on our hands –the biggest one yet, in fact.