Saturday, September 4, 2010

U.N. Raises Concerns as Global Food Prices Jump

Recent food riots in poor countries prompted United Nations officials to call for a careful watch on prices.

These people are not starving yet. The price spike makes it obvious to them that they will soon starve. It is the same mechanism found again and again in unregulated markets. Wheat needs a little help. 5% does not cause riots. 100% does.

One name is "The tragedy of the common"

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