"It’s the food system itself that is the problem. In particular, that system is controlled by an ever smaller group of businesses. With no need to keep prices low, these corporations boost prices, while pushing down costs – screwing farmers and consumers alike. Oxfam argues at least 50 per cent of the current price rises are caused by markups charged by these massive corporations."

#NickDearden

https://newint.org/features/2023/03/17/food-profit-crisis

#farming

Food barons are making a killing from this crisis

Ahead of their event on resisting monopoly capitalism, Global Justice Now’s Nick Dearden explains the rise of ‘food billionaires’, and what we can do to challenge their power.

New Internationalist

"This gives us a radically different picture of our economy from the one we’re taught by mainstream economists.

Far from being a gigantic marketplace, where no central authority gets to make decisions, and everyone goes about their business, expressing their deepest desires by buying things; the reality is that massive players use their access to finance to gobble up smaller businesses and become ever more powerful."

Nick Dearden

https://newint.org/features/2023/03/17/food-profit-crisis

#markets #FreeMarket #Neoliberalism

Food barons are making a killing from this crisis

Ahead of their event on resisting monopoly capitalism, Global Justice Now’s Nick Dearden explains the rise of ‘food billionaires’, and what we can do to challenge their power.

New Internationalist

"What’s more, these food giants have directly captured global decision-making processes creating, for example, enforceable international trade rules that make it harder for governments to protect and support their small farmers, or rules that make it easier for financiers to gamble on food prices."

Nick Dearden, 2023

"Research from the US finds that the top 1 per cent of corporations there account for a truly astonishing 81 per cent of business sales and 97 per cent of business assets. The top 0.1 per cent alone accounts for 88 per cent of corporate assets and 66 per cent of sales. A similar trend can be seen across Europe."

#NickDearden

https://newint.org/features/2023/03/17/food-profit-crisis

Food barons are making a killing from this crisis

Ahead of their event on resisting monopoly capitalism, Global Justice Now’s Nick Dearden explains the rise of ‘food billionaires’, and what we can do to challenge their power.

New Internationalist