IDST 2500H Lecture Notes - Lecture 6: Fordism, Futures Contract, Insourcing
20 Dec 2016
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Document Summary
Idst 2500 16/11/15 the corporate food regime. In the mid-1990s (more specifically 1995), a new food regime started to solidify. The agreement on agriculture of the world trade organization created it. The corporate food regime is: based on fossil fuels, dominated by global agro-food. Tncs, driven by financial imperatives, characterized by the supermarket revolution, uses global animal protein chain and transgenic organism. It supplied fordist and post-fordist food to the global upper and middle classes, while bypassing the needs of the food insecure and generating low-paying jobs for millions. Financialization of the food system has two separate aspects production of food driven by corporations, and finance capital moved into agro-intensive markets and created agro- based financial futures. Profit seeking firms tried to make money off the back of agriculture commodities. Finance started to become a mechanism by which finance could make money they could buy and sell obligations to deliver (i. e. a crop).
