Neutron Bomb Inflation

Here’s a piece that I wrote for The Guardian about the global rise in food prices. Think of this inflation as a neutron-bomb-style inflation: a kind that goes after workers, but leaves their homes and places of work intact. Trouble is that the responses to this inflation that might protect the poor – government feeding and public works programmes – are the ones in the deficit hawk’s cross-hairs. It’s entirely possible to balance a budget and have large public works, but that means taxing the rich. In this political climate, that’s unlikely. So, watch out for more food rebellions in 2011. Continue reading