Sunday, April 27, 2008

Dude, Where's my Carbs?

Update : Local repercussions

Global food crisis. Silent Tsunami. Food riots in Africa and Asia. Rice hoarding. Scary stuff. What's going on? Why is this happening? Why isn't anyone doing anything about it?

I don't pretend to be an economist. Nor do I claim to have a firm grasp on this problem or it's cause(s). I won't try to offer any solutions, or even criticize any particular parties. But I've been thinking about it alot, and trying to read alot about it from different sources, so I just want to post some of the things that I've been reading, examining it from different angles.

Vietnam has taken alot of flack in the mainstream media for curbing their exports. Some say this amounts to hoarding on a national level.

Calls for free(er) trade have been hailed as solutions.

Creative solutions are needed

It can be blamed on America.

By more than one person.

By lots of people in fact.

Rice production is enough to meet global need.

But people can't afford it.

Biofuel leads to price increase

Food for thought:

In a capitalist model, if the price were to spike on a product, production would increase to meet demand thereby steadying prices. This can't apply to agriculture, as a production increase would take at least a season, in which case demand will not be met. That only works for things like cabbage patch kids and eminem cd's. Not for important things.

Vietnam's curb on exports could be likened to America longing for energy independence. Domestic production meeting domestic demand.

Perspective.



You can tell me I'm an idiot in the comment section...

1 comment:

CY said...

Wo, dude so much thoughtful exploration of our economic condition and effect on the global economy. What's on TV tonight? LOL - Just Kidding. (I have a therapy appointment, No TV for me.) Um, i have little value to add to the conversation but wanted to you know that I followed almost all the links. And, I subscribe to the economist. How's that for the elitist society? I think I'll set up my fake/play account on Marketwatch.com and starting trading in rice and agricultural commodities and see how I do! OY, VEY, such problems in the world....