This isn't a bad economy thing - its a government coddling overproduction. They have tanks full of wine in France that they can't sell either... our government does the same thing, except replace Parm with "Corn".. we just are better at finding ways to get us (and cows) to eat more of it..
Well, that's not really the point of the article. The point is that it costs more to make "real" parmigiano than they can sell it for, so they're losing money on each wheel. If they sold more, they'd just lose more!