Friday, September 17, 2010
A funny way of articulating a damning reflection
Here is a short blurb by Raj Patel about capital investment in agriculture. He cites David Ricardo, early economist, who claims that since the appetite for food is limited, the capital that can be profitably invested in food production will have an upper limit, whereas the appetite for trinkets and novelties is limitless, so the potential for capital investment in them is limitless. However, if food become a trinket or a novelty, it seems that capital investment in agriculture would become limitless, fueling what we have today: a world where commodity markets are played with just like any other investment opportunity.
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