Remember when gas was over $4 a gallon? Remember the global food crisis that resulted in dozens of food riots around the world and plunged over 100 million people around the world into hunger? These crises where not caused by shortages of oil or food. Instead they were caused by massive bets made on Wall Street.
Sojourners best analyst on the “moral economy” Elizabeth Palmberg worked with David Kane and others are the Maryknoll Office of Global Concerns to produce this 7-minute video on food security and commodities gambling. Watch and learn!
Clearly, this seven minute video is a simplification of a complex issue, but it sums up the history behind and key problems brought on by the deregulation of commodity futures markets. You can learn more and take action here.