"Over 1 Billion NOT Served: The Global Economic Crisis and Food Governance" with Jennifer Clapp
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The food price crisis of 2007-2008 resulted in widespread hunger and civil unrest across the developing world. The attention directed to the global 'food crisis' was quickly overshadowed by the global economic collapse in the latter part of 2008, which came on the heels of months of financial instability. Since the financial crisis erupted, food insecurity has only worsened in developing countries. In 2009, the FAO announced that the number of undernourished people on the planet had surpassed 1 billion, making the millennium development goal of halving world hunger to 450 million by 2015 that much more distant. As the reality of the long term nature of this current hunger crisis has set in, institutions of global governance have responded with plans to improve world food security. In this talk, Jennifer Clapp examines the linkages between the global economic crisis and rising hunger, and discusses the implications of various strategies for addressing the crisis for food system sustainability. Speaker: Jennifer Clapp, CIGI Chair CIGI chair Jennifer Clapp holds several positions including: professor, Environment and Resource Studies, University of Waterloo; director, Centre for Global Governance Research, University of Waterloo; co-editor, "Global Environmental Politics" (MIT Press); editorial board member, "Global Governance"; contributing editor, "Alternatives Journal."
Comments
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The extra billions were going into futures contracts. A futures contract means that one person (or more than one) agrees to buy goods at a later time at the price specified in the agreement. If the price is expected to increase in that time, then the buyer of the contract pays more, but gets a higher return when prices go beyond the agreed upon price. Since more money was going into commodities futures, the demand increased.
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I understand the the surge in investment (10:00) and the de-regularion of rules that were designed to stop financial speculation into commodity index funds, basically a bet on the increase of food prices. But how did the investment $13bn to over $200bn increase food prices? She calls it Mumbo-Jumbo. But i need to know, its the only week link in her presentation.
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Fascinating Lecture, how you managed to say so much in your time slot i will never know! The de-regulation of financial markets in developed countries was highlighted as an influence on food prices and therefore had repercussions in developing countries. I would like to know more about this. De-regulation in my view is a good thing for economies, short term, however not sustainable or suitable for a GLOBAL solution. How can I learn more on financial policy and how it fails to address the future?
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You are noble in not realizing the scope of this problem threw ground roads would fix our rivers they could be used to clean them and even house us the whole country and if i here one more thing about a Nobel thing in my home i will puke My Idea is the greatest thing ever dune since the city of 'Rome was constructed! Sip on that phony science women spiff.......
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