Monday, September 2, 2013

Climate Change: Agricultural Effects

I know that the very word "agriculture" puts all too many of you to sleep, so how about putting it this way: climate change means that you're going to be paying more for your food? Hardly new information, but a little update on BBC News about how pests like the Colorado potato beetle are moving into new ground every year, munching a little bit more of the world's crops. When they munch, what curve does that shift? What does that mean for the equilibrium price and quantity? What does that mean to people around the world, like you and me or like a subsistence farmer in a poor country? Things to think about....

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