Good sense on food prices

It seems to me odd to fault the World Bank for advice some 15 years ago
to eliminate import protection–so that domestic prices could come down
at the time–while at the same time complaining about high prices now,
even with the benefit of hindsight.  If developing countries had all
kept their import protection, the global supply of food would have been
lower today, not higher. (That is because import protection would have
led global production to be reallocated from efficient exporters to
inefficient importers.) If you are for self-sufficiency, you must be
willing to live with high prices.   

No, that’s not me, that’s from Dani Rodrik.


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