Tuesday, May 6, 2008

The Hunger By Clifford D. May

There’s an old joke about astronomers discovering a giant meteor heading toward the Earth, and the Washington Post running the headline: “World To End; Minorities and Poor To Suffer Most.” Well, on Sunday the front page of the Post read: “The New Economics of Hunger.” In the subhead: “The world’s poor suffer most.”

First, it is not clear that the economics of hunger are any different now than they have been in the past. There is still supply and demand. And there still are no free lunches.

Second, if you happen to be a poor farmer, increasing prices for crops should not make you “suffer most” – they should make you suffer less. If you can grow even a little more than you consume, you will end up with additional cash in your pocket.

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