IDEAS home Printed from https://ideas.repec.org/b/zbw/esthes/157992.html
   My bibliography  Save this book

Price and Income Dynamics in the Agri-Food System: A Disaggregate Perspective

Author

Listed:
  • Baines, Joseph

Abstract

This dissertation seeks to illuminate contemporary processes of redistribution in the agri-food sector, with particular reference to the US. It addresses the following questions: How has the rapid rise in food price instability since the turn of the twenty-first century impacted income shifts within the agri-food system? Which groups within agriculture and agribusiness benefit from high and volatile food prices and which groups have suffered amid the tumult? Are all of these groups 'price-takers' that simply respond to price signals? Or are some of them 'priceshapers' that, with varying degrees of success, actively seek to restructure the agri-food system, and the regulatory architecture that governs it, in ways that make certain price developments more likely? Hitherto, there has been little in the way of sustained analysis of the connections between prices, power and redistribution in the agri-food system. The dissertation addresses three approaches that offer some perspective on the redistributional-power dynamics of agricultural commodity price movements: global value chains analysis, the food regime approach and the emergent international political economy literature on post-crisis commodity derivatives regulations. As the thesis argues, although these approaches offer important qualitative insights, they have yet to offer quantitative means of gauging the power-shifts between different agricultural and agribusiness groups and their connection to price-shifts between different agri-food sub-sectors. The thesis attempts to enfold the multiple insights of the existing literature into the capital as power approach. I submit that the process of enfoldment results in an analysis that offers a rich and highly differentiated understanding of the redistributional dynamics of high and volatile agricultural commodity prices. The arguments are made in relation to the contestation within agriculture and agribusiness over perhaps the two most controversial developments within the US agri-food sector in the early twenty-first century: the diversion of grain into agrofuels production and the rise of 'excessive speculation' in agricultural derivatives markets. The importance of these two developments is underlined by the fact that a number of scholars have attributed the sharp food price peaks in 2007-08 and 2010-11 to the influx of speculative investment in futures markets, and the general upward trend in food prices in the 2000s to the agrofuel boom. By analyzing the redistributional effects of high and volatile prices, and by examining the contestation over the course taken by agrofuels policy and commodity derivatives regulation, the dissertation outlines the winners and losers of high and volatile food prices within both agribusiness and agriculture. [This thesis was nominated for the York University Dissertation Prize.]

Suggested Citation

  • Baines, Joseph, 2015. "Price and Income Dynamics in the Agri-Food System: A Disaggregate Perspective," EconStor Theses, ZBW - Leibniz Information Centre for Economics, number 157992, November.
  • Handle: RePEc:zbw:esthes:157992
    as

    Download full text from publisher

    File URL: https://www.econstor.eu/bitstream/10419/157992/1/bna-437_20150300_baines_phd.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Bill Pritchard, 2009. "The long hangover from the second food regime: a world-historical interpretation of the collapse of the WTO Doha Round," Agriculture and Human Values, Springer;The Agriculture, Food, & Human Values Society (AFHVS), vol. 26(4), pages 297-307, December.
    2. Dominic K. Albino & Karla Z. Bertrand & Yaneer Bar-Yam, 2012. "Food for fuel: The price of ethanol," Papers 1210.6080, arXiv.org.
    3. Fatma Sine Tepe & Xiaodong Du & David A. Hennessy, 2011. "The impact of biofuels policy on agribusiness stock prices," Agribusiness, John Wiley & Sons, Ltd., vol. 27(2), pages 179-192, Spring.
    4. Nitzan, Jonathan & Bichler, Shimshon, 2002. "The Global Political Economy of Israel," EconStor Books, ZBW - Leibniz Information Centre for Economics, number 157972.
    5. Dwight R. Sanders & Scott H. Irwin, 2011. "New Evidence on the Impact of Index Funds in U.S. Grain Futures Markets," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 59(4), pages 519-532, December.
    6. Chan, J.H. & Reiner, D., 2011. "Dynamics of Evolution in the Global Fuel-Ethanol Industry," Cambridge Working Papers in Economics 1129, Faculty of Economics, University of Cambridge.
    7. Nitzan, Jonathan & Bichler, Shimshon, 2009. "Capital as Power. A Study of Order and Creorder," EconStor Books, ZBW - Leibniz Information Centre for Economics, number 157973.
    8. Veblen, Thorstein, 1904. "Theory of Business Enterprise," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, number veblen1904.
    9. Marco Lagi & Yavni Bar-Yam & Karla Z. Bertrand & Yaneer Bar-Yam, 2011. "The Food Crises: A quantitative model of food prices including speculators and ethanol conversion," Papers 1109.4859, arXiv.org.
    10. Wisner, Robert N., 2004. "Round-Up® Ready Spring Wheat: Its Potential Short-Term Impacts on U.S. Wheat Exports Markets and Prices," Staff General Research Papers Archive 12205, Iowa State University, Department of Economics.
    11. Harriet Friedmann, 2009. "Discussion: moving food regimes forward: reflections on symposium essays," Agriculture and Human Values, Springer;The Agriculture, Food, & Human Values Society (AFHVS), vol. 26(4), pages 335-344, December.
    12. McMahon, James, 2013. "The Rise of a Confident Hollywood: Risk and the Capitalization of Cinema," EconStor Preprints 157854, ZBW - Leibniz Information Centre for Economics.
    13. Mintz-Habib, Nazia, 2013. "Malaysian biofuels industry experience: A socio-political analysis of the commercial environment," Energy Policy, Elsevier, vol. 56(C), pages 88-100.
    14. Broehl, Wayne G., 2008. "Cargill," University of Chicago Press Economics Books, University of Chicago Press, number 9781584656944, Febrero.
    15. Brian Wright, 2014. "Global Biofuels: Key to the Puzzle of Grain Market Behavior," Journal of Economic Perspectives, American Economic Association, vol. 28(1), pages 73-98, Winter.
    16. Carol Hunsberger, 2014. "Jatropha as a biofuel crop and the economy of appearances: experiences from Kenya," Review of African Political Economy, Taylor & Francis Journals, vol. 41(140), pages 216-231, June.
    17. McCarthy, John F. & Gillespie, Piers & Zen, Zahari, 2012. "Swimming Upstream: Local Indonesian Production Networks in “Globalized” Palm Oil Production," World Development, Elsevier, vol. 40(3), pages 555-569.
    18. Bichler, Shimshon & Nitzan, Jonathan, 2002. "New Economy or Transnational Ownership? The Global Political Economy of Israel," EconStor Preprints 157818, ZBW - Leibniz Information Centre for Economics.
    19. McMahon, James, 2013. "The Rise of a Confident Hollywood: Risk and the Capitalization of Cinema," Review of Capital as Power, Capital As Power - Toward a New Cosmology of Capitalism, vol. 1(1), pages 23-40.
    20. Gibbon, Peter, 2001. "Upgrading Primary Production: A Global Commodity Chain Approach," World Development, Elsevier, vol. 29(2), pages 345-363, February.
    21. Stefano Pagliari & Kevin L. Young, 2014. "Leveraged interests: Financial industry power and the role of private sector coalitions," Review of International Political Economy, Taylor & Francis Journals, vol. 21(3), pages 575-610, June.
    22. Baines, Joseph, 2014. "Wal-Mart's Power Trajectory: A Contribution to the Political Economy of the Firm," Review of Capital as Power, Capital As Power - Toward a New Cosmology of Capitalism, vol. 1(1), pages 79-109.
    23. Fuglie, Keith O. & Heisey, Paul W. & King, John L. & Day-Rubenstein, Kelly A. & Schimmelpfennig, David E. & Wang, Sun Ling, 2011. "Research Investments and Market Structure in the Food Processing, Agricultural Input, and Biofuel Industries Worldwide," Economic Research Report 120324, United States Department of Agriculture, Economic Research Service.
    24. Bruce W. Marion & Donghwan Kim, 1991. "Concentration change in selected food manufacturing industries: The influence of mergers vs. internal growth," Agribusiness, John Wiley & Sons, Ltd., vol. 7(5), pages 415-431.
    25. Bichler, Shimshon & Nitzan, Jonathan, 2004. "Dominant Capital and the New Wars," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, pages 254-327.
    26. Mitchell, Donald, 2008. "A note on rising food prices," Policy Research Working Paper Series 4682, The World Bank.
    27. Carmen Bain & Theresa Selfa, 2013. "Framing and reframing the environmental risks and economic benefits of ethanol production in Iowa," Agriculture and Human Values, Springer;The Agriculture, Food, & Human Values Society (AFHVS), vol. 30(3), pages 351-364, September.
    28. Sandy Brian Hager, 2014. "What Happened to the Bondholding Class? Public Debt, Power and the Top One Per Cent," New Political Economy, Taylor & Francis Journals, vol. 19(2), pages 155-182, March.
    29. Hager, Sandy Brian, 2014. "What Happened to the Bondholding Class? Public Debt, Power and the Top One Per Cent (Preprint)," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, pages 155-182.
    30. Jayati Ghosh & James Heintz & Robert Pollin, 2011. "Speculation on Commodities Futures Markets and Destabilization Of Global Food Prices: Exploring the Connections," Working Papers wp269, Political Economy Research Institute, University of Massachusetts at Amherst.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Bichler, Shimshon & Nitzan, Jonathan, 2017. "Growing through Sabotage: Energizing Hierarchical Power," Working Papers on Capital as Power 2017/02, Capital As Power - Toward a New Cosmology of Capitalism.
    2. Bichler, Shimshon & Nitzan, Jonathan, 2020. "Growing through Sabotage: Energizing Hierarchical Power," Review of Capital as Power, Capital As Power - Toward a New Cosmology of Capitalism, vol. 1(5), pages 1-78.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Baines, Joseph, 2014. "The Ethanol Boom and the Restructuring of the Food Regime," Working Papers on Capital as Power 2014/03, Capital As Power - Toward a New Cosmology of Capitalism.
    2. Baines, Joseph, 2015. "Fuel, Feed and the Corporate Restructuring of the Food Regime," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, pages 295-321.
    3. Nitzan, Jonathan & Bichler, Shimshon, 2018. "The CasP Project: Past, Present, Future," Review of Capital as Power, Capital As Power - Toward a New Cosmology of Capitalism, vol. 1(3), pages 1-39.
    4. Baines, Joseph, 2014. "Food Price Inflation as Redistribution: Towards a New Analysis of Corporate Power in the World Food System (Preprint)," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, pages 79-112.
    5. Cochrane, David Troy, 2015. "What’s Love Got to Do with It? Diamonds and the Accumulation of De Beers, 1935-55," EconStor Theses, ZBW - Leibniz Information Centre for Economics, number 157995, September.
    6. Bichler, Shimshon & Nitzan, Jonathan, 2017. "Growing through Sabotage: Energizing Hierarchical Power," Working Papers on Capital as Power 2017/02, Capital As Power - Toward a New Cosmology of Capitalism.
    7. Bichler, Shimshon & Nitzan, Jonathan, 2020. "Growing through Sabotage: Energizing Hierarchical Power," Review of Capital as Power, Capital As Power - Toward a New Cosmology of Capitalism, vol. 1(5), pages 1-78.
    8. Bichler, Shimshon & Nitzan, Jonathan, 2015. "Still About Oil?," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, pages 49-79.
    9. Hager, Sandy Brian, 2013. "Public Debt, Ownership and Power: The Political Economy of Distribution and Redistribution," EconStor Theses, ZBW - Leibniz Information Centre for Economics, number 157991, November.
    10. Nitzan, Jonathan & Bichler, Shimshon, 2019. "CasP's 'Differential Accumulation' versus Veblen's 'Differential Advantage' (Revised and Expanded)," Working Papers on Capital as Power 2019/01, Capital As Power - Toward a New Cosmology of Capitalism.
    11. Bichler, Shimshon & Nitzan, Jonathan, 2012. "Capital as Power: Toward a New Cosmology of Capitalism," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, pages 65-84.
    12. Nitzan, Jonathan & Bichler, Shimshon, 2006. "New Imperialism or New Capitalism?," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, pages 1-86.
    13. Di Muzio, Tim, 2016. "Energy, Capital as Power and World Order," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, pages 267-287.
    14. Kivisto, Hanna, 2016. "Capital as Power and the Corporatization of Education," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, pages 1-17.
    15. Bichler, Shimshon & Nitzan, Jonathan, 2017. "Oil and Blood in the Orient, Redux," EconStor Preprints 172198, ZBW - Leibniz Information Centre for Economics.
    16. Hager, Sandy Brian, 2015. "Public Debt as Corporate Power: Mapping the New Aristocracy of Finance," Working Papers on Capital as Power 2015/01, Capital As Power - Toward a New Cosmology of Capitalism.
    17. Di Muzio, Tim & Dow, Matthew, 2016. "Uneven and Combined Confusion: On the Geopolitical Origins of Capitalism and the Rise of the West," Working Papers on Capital as Power 2016/03, Capital As Power - Toward a New Cosmology of Capitalism.
    18. McMahon, James, 2018. "Is Hollywood a Risky Business? A Political Economic Analysis of Risk and Creativity," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, pages 1-24.
    19. Bichler, Shimshon & Nitzan, Jonathan, 2014. "Energy Conflicts and Differential Profits: An Update," EconStor Preprints 157857, ZBW - Leibniz Information Centre for Economics.
    20. Di Muzio, Tim & Dow, Matthew, 2017. "Uneven and Combined Confusion: On the Geopolitical Origins of Capitalism and the Rise of the West," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, pages 3-22.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:zbw:esthes:157992. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: . General contact details of provider: https://edirc.repec.org/data/zbwkide.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ZBW - Leibniz Information Centre for Economics (email available below). General contact details of provider: https://edirc.repec.org/data/zbwkide.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.