speculation

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Well, I guess I timed that last piece reasonably well ;-), no? As you may have noticed, I am at present typing this on the internet, rather than carving it into a stone tablet (actually I’d probably just use a pen and a piece of paper, but stone tablet does sound more apocalyptic), so the…

Speculation and World Food Prices

Yesterday was World Food Day, and NPR has a good piece about the role of speculation in food prices: The economists argue that increased trading is a significant part of the reason grocery prices are higher this year. And grocery prices are indeed up this year. For example, in August, the average price of bread…

If you want to see it in color, all you have to do is google image up a history of the price of oil and superimpose it on the price of various staple crops. Take a look at oil and then rice, soybeans, wheat and corn. Look closely at 2008, and at the present. I…