ON THE GLOBAL FOOD CRISIS
thegies writes hmmm...175 Billion spend on advertising in the US in 2007 and $165 Billion being thrown in the trash or into landfills due to ineffectiveness. I wonder what a difference reallocating this money would make to many social issues? Check out http://profile.myspace.com/index.cfm?fuseaction=user.viewprofile&friendid=323832500
FOOD FOR THOUGHT
The Economist has a timely cover story on the current global food price inflation and resulting unrest. Here's how they describe the harsh human reality:
"...by almost any measure, the human suffering is likely to be vast. In El Salvador the poor are eating only half as much food as they were a year ago. Afghans are now spending half their income on food, up from a tenth in 2006.
On a conservative estimate, food-price rises may reduce the spending power of the urban poor and country people who buy their own food by 20% (in some regions, prices are rising by far more). Just over 1 billion people live on $1 a day, the benchmark of absolute poverty; 1.5 billion live on $1 to $2 a day.
Bob Zoellick, the president of the World Bank, reckons that food inflation could push at least 100m people into poverty, wiping out all the gains the poorest billion have made during almost a decade of economic growth."
In particular the article does a good job on outlining the myriad market forces than have brought us to this point, and an cogent examination of how market forces may get us out. As the article points out:
"In the short run, humanitarian aid, social-protection programmes and trade policies will determine how well the world copes with these problems. But in the medium term the question is different: where does the world get more food from?
If the extra supplies come mainly from large farmers in America, Europe and other big producers, then the new equilibrium may end up looking much like the old one, with world food depending on a small number of suppliers and—possibly—trade distortions and food dumping."
But the longer-term answers are not that clear, given the complexity of the many disparate global trends that are coming together at an inopportune time. We need to understand the issues and the problems before we can start to figure out the opportunities and solutions.
Definitely worth a weekend read.







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