Paul Krugman on the Food Crisis

Op-ed columnist Krugman writes in the NYTIMES on April 7, 2008:
"...Over the past few years the prices of wheat, corn, rice and other basic foodstuffs have doubled or tripled, with much of the increase taking place just in the last few months. High food prices dismay even relatively well-off Americans — but they’re truly devastating in poor countries, where food often accounts for more than half a family’s spending.

"There have already been food riots around the world. Food-supplying countries, from Ukraine to Argentina, have been limiting exports in an attempt to protect domestic consumers, leading to angry protests from farmers — and making things even worse in countries that need to import food."

http://www.nytimes.com/2008/04/07/opinion/07krugman.html?em&ex=1207800000&en=814beb53994fd272&ei=5087%0A