Interesting article in May 9 Wall Street Journal. Most economists surveyed believe food and fuel price rises are primarily caused by good ol supply and demand (I have heard of those somewhere!). According to the economists, the main culprit; increased global demand led by China and India, both relatively new (and growing) components of the global economy.
The survey could make for an interesting classroom discussion on market forces and and the power they carry, even in a global economy.
You can view the full survey at WSJ.com/Economist
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