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Addendum on Rising Food Prices-BeckerIt was an ove

Posted on April 17, 2008

Addendum on Rising Food Prices-BeckerIt was an oversight that I did not discuss explicitly long term prospects for food price increases. The brief discussion below corrects this.A major concern about the rapid rise in food prices is that these high prices will persist into the indefinite future, and perhaps food prices will rise much further. An analogy is often drawn with oil prices since both have risen rapidly during past couple of years, and there is much fear by oil importing countries that oil prices will continue to go up during the next few years. However, the analogy to oil is serious...

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