In Search of Villains for Rising Food and Oil Prices by Walter Williams
In searching for villains for rising food and oil prices, some commentators have turned to speculators, namely people trading on the Chicago Mercantile Exchange and similar exchanges around the world. A sample of the claims: "Biofuels and droughts can't fully explain the recent food crisis -- hedge funds and small investors bear some responsibility for global hunger." "The global food crisis is likely to persist if speculative investment by the corporate world is not reined in soon, warned a top expert responsible for reporting to the United Nations on human rights violations." "Financial speculators reap profits from global hunger."
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