POLS 196 Lecture Notes - Lecture 24: Bretton Woods System, Food Regimes, Sustainable Energy
3 Apr 2020
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Document Summary
Attempts to connect changes in regulation of derivatives markets to shifts in food regimes. Shows how the regulatory reinterpretation of hedging and speculation helped spur financialization of agricultural markets. Analyzes how farmers interests were served in relation to financialization of agricultural markets. Financialization for baines is the growth of agricultural derivative markets relative to underlying agricultural production: reveals: Increasing financialization correlate with increasing price instability and price spikes. Institutions are legacies of pasta distributional struggles and political coalitions influence on state policy: application and interpretation of laws and rules is just as important as the laws themselves. Laws can be reinterpreted with time to give different results. No need for commodity indexes and hedging: breakdown of state managed food regime: Fracturing a farm coalition that supported regulated and managed trade (1) because of concentration of ownership and power among multinational corporations. Agricultural interests in the south weakened, democratic support for them waned.
