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Food prices: what next? Alex Evans

November 25, 2008 | More on Articles and Publications, Speeches | One comment

Speech by Alex Evans at the Tomorrow Network (25 November 2008)

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  1. The global economy's recovery and the living standards of millions of people from the developing countries and from the third world are nowadays at risk from the sudden rise in oil and commodity prices. Gas at the pump is up, and going higher. Food prices are following. The consequences are catastrophic for the global poor as their costs go up while their income doesn't. It's menacing American workers too, who in large part have not seen a meaningful raise since the days of Reagan.
    There are always scapegoats for this dramatic increase in prices: unrest in the Middle East and many African countries has been cited. Our media treats the oil business as just another mystical world of free market trading.
    Is oil really getting scarcer, leading to price increases? Is the cost of food, similarly, a reflection of naturally increasing commodity prices? While it's true that natural disasters and upheavals in some strategic parts of the world play some role in this unchecked commodity price inflation , it also seems apparent that something else is attracting increasing attention. President Obama recently said there is nothing he can do about the hike in oil and food prices.
    Critics say the problem is that government and media outlets alike refuse to recognize what's really going on: unchecked speculation!

BERJAYA

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