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Behind the Food-Price Riots
Vincent Reinhart
Published: April 24, 2008 12:28
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Excerpt: {magazine_leadin}{magazine_body}With a dramatic rise in the prices of foodstuffs, riots have flared up in dozens of hotspots around the world. Panicky politicians are responding with precisely the wrong policies, including production subsidies and trade controls. The problem is clear enough: According to the International Monetary Fund, food and beverage prices have risen 60 percent in the past three years, and more than doubled since 2001. What is going on? We can discern four forces at work today pushing up food prices—forces…
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