How do you reconcile a “free market” with driving instability in food prices that may leave many starving?
There is money to be made from hungry people – that is the unpalatable fact at the root of an article by journalist Graeme Green.
In the feature, which was published in the Metro newspaper in October 2012, he says campaigners are claiming that financial investors are ‘driving up prices and putting the lives of millions at risk’ by betting on the world’s food crisis.
He writes: ‘Last month it was revealed Barclays made about £500 million over the past two years on food speculation. In Britain, the average household food bill increases by about five per cent each year. But in the developing world, where a higher proportion – up to 90 per cent – of income goes on food, rising prices can be a matter of life and death… Food speculation is a major contributing factor, with the activity of investment banks, hedge funds and other financial…
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