Rising food prices: who is at fault?
The New York Times writes today that India’s politicians, economists, and academics are responding to the charge that increasing prosperity in their country is responsible for the global rise in food prices. No way, they say. Like Vandana Shiva (see previous post), they cite other reasons: the West’s diversion of crop land to produce biofuels, agricultural subsidies that undermine agriculture in developing countries, trade barriers that do the same, high consumption of beef and oil resources, and high degree of food waste, along with the decline in the exchange rate of the U.S. dollar. Time for some leadership on all sides, I’d say.