Accumulating through food crisis? Farmers, commodity traders and the distributional politics of financialization

Baines, Joseph

doi:10.1080/09692290.2017.1304434

Cited by 27 publications

(29 citation statements)

References 39 publications

(48 reference statements)

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Global agri-food restructuring over the past 40 years has played a major role in steering these demographic trajectories (Goodman and Watts, 1997). Over the course of these four decades, farmer incomes have become highly volatile because of trade liberalization and financial speculation (Lobao and Meyer, 2001;Baines, 2017). In general, crop prices are too low for farmers to make a living, due to structural overproduction, globalized competition, and externalized costs of industrial processes (Graddy-Lovelace and Diamond, 2017).…”

Section: Political Economic Origins Of Us Agriculturementioning

confidence: 99%

Securing the future of US agriculture: The case for investing in new entry sustainable farmers

Carlisle

Wit

DeLonge

et al. 2019

Elementa: Science of the Anthropocene

View full text Add to dashboard Cite

Sustainable agriculture is among the most urgently needed work in the United States, for at least three reasons: we face an environmental crisis, a health crisis, and a rural economic crisis. Addressing these pressing crises through sustainability transition will require growing our agricultural workforce: both because the current farm population is aging, and because sustainable agriculture is knowledge-intensive work that substitutes experiential knowledge of farm ecosystems for harmful industrial inputs. Given its social value, sustainable agriculture ought to be a welcoming profession. But at present, US agriculture is decidedly unwelcoming for nearly all who work in it – and it puts new entry and sustainable farmers at a distinct disadvantage. In this paper, we first examine why it is so hard to enter and succeed in sustainable farming. We find that new entrants struggle to gain critical access, assets, and assistance, encountering substantial barriers that stand between them and the land, capital, markets, equipment, water, labor, and training and technical assistance they need to succeed. Secondly, we review promising policy and civil society interventions targeted at addressing these barriers, nearly all of which have already been piloted at the local and state levels or through modest public funding. These interventions are most effective, we find, when they are linked up through robustly governed networks to provide “wraparound” coverage for new entry sustainable farmers. Such networks can help patch together complementary sources of support (e.g. federal, state, local, NGO, cooperative) and synergistically address multiple barriers at once. Finally, we propose additional interventions that are more aspirational today, but that could offer important pathways to support new sustainable farmers in the longer term.

show abstract

Section: Political Economic Origins Of Us Agriculturementioning

confidence: 99%

Securing the future of US agriculture: The case for investing in new entry sustainable farmers

Carlisle

Wit

DeLonge

et al. 2019

Elementa: Science of the Anthropocene

View full text Add to dashboard Cite

show abstract

“…A detailed historical analysis of speculation from a regulatory perspective has been done by Baines (2017). The researcher investigates regulations shifts towards bone fide hedgers and speculators starting from the end of the 19 th century till 2017, also reviewing main US bills and international trade agreements.…”

Section: Literature Review and Research Methodologymentioning

confidence: 99%

“…The majority of research on the impact of speculation on organized markets is unanimous in the negative impact of speculation on the commodity markets (Adammer and Bohl, 2015;Ghosh, 2010;Baines, 2017;Alamad, 2017, and others). Some authors, however, claim the opposite (Haase and Huss, 2018;Koziol and Treuter, 2019;Lehecka, 2015;Boyd et al, 2018;Andreasson et al, 2016;Etienne et al, 2017).…”

Section: Literature Review and Research Methodologymentioning

confidence: 99%

“…Such a dichotomy in approaches towards speculation is well explained by Baines (2017). He analyzed the evolution of regulatory approaches towards the definition of bona fide hedging and demonstrates a gradual approach to the lobbying points of agrifood giants and financial groups.…”

Section: Speculation and Financialization: Is Regulation Effective?mentioning

confidence: 99%

“…He analyzed the evolution of regulatory approaches towards the definition of bona fide hedging and demonstrates a gradual approach to the lobbying points of agrifood giants and financial groups. Therefore, the activities that were formerly treated as 'pure gambling' appeared to be bona fide hedging (Baines, 2017). We have taken Baines's hedgingspeculation spectrum and made an attempt to provide a fiqh position, which is in all cases negative, except for pure hedging (Table 2).…”

Section: Speculation and Financialization: Is Regulation Effective?mentioning

confidence: 99%

See 2 more Smart Citations

Islamic finance and food commodity trading: is there a chance to hedge against price volatility and enhance food security?

Kalimullina

Orlov

2020

Heliyon

View full text Add to dashboard Cite

This paper evaluates current food commodity trading from the Shariah point of view, which is particularly relevant for the MENA region. It focuses on futures contracts as the main instrument for grain trading and analyzes the traders' activities. Through a qualitative and multifaceted approach, the paper accumulates and evaluates the suggestions for 15 Shariah-based alternatives to futures by contemporary researchers. Sukuk, commodity funds and takaful programs are among potential structures that could be developed and broadly implemented. The research compares the current criticism of futures markets with the opinions of Islamic scholars and researchers, as well as Shariah standards. The paper also evaluates several recent suggestions by researchers to raise the efficiency of the international commodity trading market for the sake of food security. The results show that there is space for cooperation taking into account Islamic financial principles and conventional commodity exchange regulations, in combining existing best practices of the latter and the rulings of the former in engineering a sounder system of grain trading for the benefit of market players and the end consumers. This would require a joint effort and support from exchanges, standard-setting bodies, and regulators. Among the areas of cooperation are the approach towards corners (ihtikar), squeezes, speculation (gharar, maysir, and najash), and defining the border between reasonable and excess speculation; financial architecture using new technologies in developing a commodity trading contract conforming to the Shariah regulations and the exchange requirements. There is a need to develop the ideas for global food contracts and grain reserve systems, and to test the contracts based on existing exchanges.

show abstract

A SoP Approach to Understanding Food Consumption

Bayliss

Fine

2020

A Guide to the Systems of Provision Approach

View full text Add to dashboard Cite

Accumulating through food crisis? Farmers, commodity traders and the distributional politics of financialization

Cited by 27 publications

References 39 publications

Securing the future of US agriculture: The case for investing in new entry sustainable farmers

Securing the future of US agriculture: The case for investing in new entry sustainable farmers

Islamic finance and food commodity trading: is there a chance to hedge against price volatility and enhance food security?

A SoP Approach to Understanding Food Consumption

Contact Info

Product

Resources

About