Don’t Panic
Posted on Wednesday, May 7, 2008
URL: http://www.nwanews.com/bcdr/Editorial/61576/
It surprises and humbles when a crisis comes, seemingly, out of nowhere, to upset the agenda we thought we had set for ourselves, our businesses or our government.
Such is the case of the global food crisis, which the U. N. World Food Program has termed a “ silent tsunami. ” Globalization has created a degree of interdependence never previously imagined. Whether we like it or not, the world is ever more integrated politically, culturally and economically.
Experts say that there is no sudden shortage, but rather a steadily mounting demand. Rice consumption has risen 40 percent in three decades, according to the U. N. Nothing makes people more jumpy than telling them not to panic — and yet, objectively, there’s nothing to panic about. Sure it’s regrettable that food prices are rising, but the government should not be stampeded into precipitous actions that might upset market forces in a way that does more harm than good.
— Jerusalem Post