April 29, 2008

FABIUS MAXIMUS looks at worldwide food prices and has some useful observations, including these: “Panic by government and large corporations can easily exacerbate the hysteria. . . . Governments react to inflation not by tackling the monetary causes – which is painful – but by attempting to mute the price signal (price controls, export bans). This is self-defeating, as such measures have many bad effects.”

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