Global food crisis vs. the concept of sustainable development Cover Image

Światowy kryzys żywnościowy a koncepcja rozwoju zrównoważonego
Global food crisis vs. the concept of sustainable development

Author(s): Wiktor Szydło
Subject(s): Economy
Published by: Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu
Keywords: food crisis; speculative bubble; financialization; sustainable development

Summary/Abstract: The aim of the paper is to analyse various concepts describing the origins of global food crisis in order to check their validity and consistency with sustainable development paradigm. The research is based on historical and institutional analysis. The results show the weakness of orthodox concepts and at the same time demonstrate the strength of the alternative (heterodox) notion which highlights speculation in the deregulated financial markets as the main cause of the crisis. Many aspects of alternative theory have their basis in sustainable development paradigm which postulates proper coordination of five orders: economic, social, environmental, institutional and spatial. Because of the growing influence of the financial sphere on the real sector, the author postulates the broadening of sustaibable developemnt paradigm. The adjusted paradigm should include financial order. Indexes describing this order would inform in advance about the buildup of unfavourable developments such as asset price bubbles.

  • Issue Year: 2016
  • Issue No: 453
  • Page Range: 116-130
  • Page Count: 15
  • Language: Polish