Insight and inspiration in turbulent times.
With a wide range of commodities in limited supply, various regions of the world are now behaving as if they are engaged in simultaneous games of musical chairs when it comes to commodity shortages.
The games differ by commodity and by region, but they all share one characteristic: As in a game of musical chairs, someone will have to go without.
Commodity price declines signal exceptional weakness in the world economy. It is no secret that economic growth in Europe has been stalled for some time and is now receding. The European Union’s confrontation with Russia over the Ukraine conflict and the resulting tit-for-tat economic sanctions levied by both sides are only worsening the economic climate.
Food is treated as a private good in today’s industrial food system, but it must be re-conceived as a common good in the transition toward a more sustainable food system that is fairer to food producers and consumers.
