Isabella Weber, who linked corporate profits to inflation, shares how to prevent food shortages – and price gouging
Tell us: how has inflation changed the way you grocery shop?
Isabella Weber, the economist who ignited controversy with a bold proposal to implement strategic price controls at the peak of inflation and identified corporate profits as a driver of high prices, has proposed a new measure that could prevent food shortages and price gouging in the wake of another disruption of the global supply chains.
Weber’s new paper, published on Thursday, looks at how grain prices spiked in 2022 as Covid snagged supply chains and Russia invaded Ukraine. The price hikes helped to drive record profits for corporations while pushing inflation higher and increasing global hunger. In the paper, Weber and colleagues call for the creation of buffer stocks of grain that could be released during shortages or emergencies to ease price pressures.
About Author
More Stories
China accuses UK politicians of ‘arrogance’ in British Steel row
In the red: global wine sales fall to lowest levels since 1961
Fed chair says Trump tariffs could make inflation worse as US stocks slide further