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Economics of Food, The: How Feeding and Fueling the Planet Affects Food Prices

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Economics of Food, The: How Feeding and Fueling the Planet Affects Food Prices

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Will economic recovery and biofuel production lead to price inflation in both food and energy? And will more people starve as a result?

  • Addresses critical questions about the future of food and the relationships among biofuels, food production, food prices, energy costs, and world hunger
  • Discusses different future scenarios and explains the factors the would lead to each possible outcome
  • For everyone concerned about food prices, from consumers and farmers to commodity traders and government policymakers
  • Description

    • Copyright 2010
    • Edition: 1st
    • Premium Website
    • ISBN-10: 0-13-700610-1
    • ISBN-13: 978-0-13-700610-6

    Over the past two years, food prices have soared -- and plummeted. As crops are increasingly shifted to biofuel production, will food prices soar again? Will people starve as a result? What are the hidden relationships between the food on your plate and the gas in your car? Will economic recovery lead directly to massive price inflation in both food and energy? In this book, one of the world's leading experts untangles the complex global relationships between food, energy, and economics and helps readers come to their own conclusions about the future of food. Pat Westhoff reveals what really causes large swings in food prices and what is likely to cause them to rise and fall in the future. Westhoff discusses all the factors that drive changes in the cost of food: not just biofuel production, but also weather, income growth, exchange rates, energy prices, government policies, market speculation, and more. Next, he walks through several of the most likely scenarios for the future, offering insights that will be indispensable to consumers, commodity speculators, and policymakers alike.

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    Introduction to the Economics of Food: What Goes Up…

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    Table of Contents

    Introduction: What Goes Up     1

    Chapter 1    Biofuel Boom    9

    Chapter 2    Tell Me the Oil Price    35

    Chapter 3    Policies Matter    55

    Chapter 4    Rain and Grain    81

    Chapter 5    Money in the Pocket, Food on the Plate    97

    Chapter 6    Food Appreciation and Dollar Depreciation    115

    Chapter 7    Speculating on Speculation    129

    Chapter 8    Stuff Happens    143

    Chapter 9    A Longer View    157

    Appendix     Food 101    181

    Endnotes     215

    Index    233


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