Macroeconomics Case Study

Global Food Crisis (B): A Perfect Storm of Supply Crunch?

OR

Abstract: This case study, sequel to Global Food Crisis (A): A Silent Tsunami of New Demands?, is an attempt to vigorously bring to the fore of the deep seated malaise underneath the world wide food crisis of 2008. It shows how short term knee-jerk responses to banish food crisis get merely as temporary palliatives and long-term reliance then simply spawns boomerang effects. Various features behind food productivity have been explored and the trade offs faced in the food front discussed. The case study debates over globalisation vs food sovereignty, mechanisation of agriculture vs loss of crop land to urbanisation, GM seeds vs farmers’ seed autonomy, agrochemical inputs vs soil fertility, irrigation vs environmental preservation while stressing the importance of research in food production. The case examines the cost-benefit aspects of rocket food. Whether global food crisis is to be imputed to adverse climate change coupled with rising population or it is an offshoot of purchasing powers in the lands of marginalised is the point worth one’s pondering.

Pedagogical Objectives:

• To analyse the factors augmenting the supply side of food economics
• To explore the trade-offs in the quest for higher food production
• To discuss the new possibilities in expanding global food production
• To debate over themanagement of demand side and supply side to over come the world food crisis.

Keywords : Global Food Crisis, GM seeds, Trades-offs in Food Front, Seed Dependency Syndrome, Malthusian Law, Globalisation, Trade Liberalisation, Ricardian Theory of Comperative Advantage, Impact of Climate Change on Food Production, Rocket Food, Kmznet`s Curve