tag:blogger.com,1999:blog-3778570096826367144.post4996831087359580292..comments2024-03-29T11:12:25.046+05:30Comments on Ground Reality: "The Food Bubble: How Wall Street Starved Millions and Got Away with It"Devinder Sharmahttp://www.blogger.com/profile/05867902048509662981noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-3778570096826367144.post-28353001866806352232010-07-22T23:10:02.456+05:302010-07-22T23:10:02.456+05:30Devinder Sharma wrote:
> In 2008, wheat product...Devinder Sharma wrote:<br />> In 2008, wheat production was the highest.<br />> There was therefore no reason why wheat<br />> prices should have soared to a record level. <br /><br />No reason? I'll give you the reasons:<br /><br />0.) For-Profit Corporations care nothing about Product except as a vehicle for extracting Profit during the exchange of finished goods.<br /><br />1.) Profit requires Scarcity and scarcity is held in place initially by withholding access to the finished products and more completely by withholding access to the *Sources* of those products.<br /><br />2.) Our ignorant treatment of Profit as though it were a reward for the current owners incents those owners to make decisions and write legislation that limits or destroys production to even further increase Profit. It is a dangerous positive-feedback loop.<br /><br />3.) We can never fully solve the problems of society using such a model, for to do so would destroy the only reason for those entities to exist - to keep Price above Cost.Anonymoushttps://www.blogger.com/profile/00186083086452674635noreply@blogger.com