Dynamique
12-28-2010, 10:14 PM
The Finite World
By PAUL KRUGMAN
Op-Ed Columnist The New York Times
December 26, 2010
Oil is back above $90 a barrel. Copper and cotton have
hit record highs. Wheat and corn prices are way up.
Over all, world commodity prices have risen by a
quarter in the past six months.
[photo] Fred R. Conrad/The New York Times
So what's the meaning of this surge?
Is it speculation run amok? Is it the result of
excessive money creation, a harbinger of runaway
inflation just around the corner? No and no.
What the commodity markets are telling us is that we're
living in a finite world, in which the rapid growth of
emerging economies is placing pressure on limited
supplies of raw materials, pushing up their prices. And
America is, for the most part, just a bystander in this
story.
read the rest at
https://www.nytimes.com/2010/12/27/opinion/27krugman.html?src=me&ref=general
By PAUL KRUGMAN
Op-Ed Columnist The New York Times
December 26, 2010
Oil is back above $90 a barrel. Copper and cotton have
hit record highs. Wheat and corn prices are way up.
Over all, world commodity prices have risen by a
quarter in the past six months.
[photo] Fred R. Conrad/The New York Times
So what's the meaning of this surge?
Is it speculation run amok? Is it the result of
excessive money creation, a harbinger of runaway
inflation just around the corner? No and no.
What the commodity markets are telling us is that we're
living in a finite world, in which the rapid growth of
emerging economies is placing pressure on limited
supplies of raw materials, pushing up their prices. And
America is, for the most part, just a bystander in this
story.
read the rest at
https://www.nytimes.com/2010/12/27/opinion/27krugman.html?src=me&ref=general