Could Rising Food Prices In Poor Countries Trigger Change Among Western Economists?
The ongoing food crises in 36 countries around the globe are a cause of worry for major institutions such as the World Bank because the problems signal profound problems of disbalance in the world economy. The main reasons behind the high food prices in poor countries are the high oil price and market liberalization shocks. Biofuel crops are hardly a factor. Climate change is something that has played a role for as long as everyone can remember and it's only being recognized now.