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Black-Hole Security


  • James A Roumasset

    () (Department of Economics, University of Hawaii at Manoa)


The quest for economic security can sometimes exacerbate insecurity thereby leading to a black hole of regulations, spending and ever-worsening insecurity. This paper explores food security in the Philippines, demonstrating how the state-trading enterprise for rice increases prices, decreases price stability, and stifles agricultural development, all at an enormous cost to Philippine taxpayers.

Suggested Citation

  • James A Roumasset, 2000. "Black-Hole Security," Working Papers 200005, University of Hawaii at Manoa, Department of Economics.
  • Handle: RePEc:hai:wpaper:200005

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    References listed on IDEAS

    1. Miron, Jeffrey A & Zwiebel, Jeffrey, 1991. "Alcohol Consumption during Prohibition," American Economic Review, American Economic Association, vol. 81(2), pages 242-247, May.
    2. Williams,Jeffrey C. & Wright,Brian D., 2005. "Storage and Commodity Markets," Cambridge Books, Cambridge University Press, number 9780521023399, March.
    3. Clarete, Ramon L. & Roumasset, James A., 1987. "A Shoven-Whalley model of a small open economy : An illustration with Philippine tariffs," Journal of Public Economics, Elsevier, vol. 32(2), pages 247-261, March.
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    Cited by:

    1. James Roumasset, 2004. "Rural Institutions, Agricultural Development, and Pro-Poor Economic Growth," Asian Journal of Agriculture and Development, Southeast Asian Regional Center for Graduate Study and Research in Agriculture (SEARCA), vol. 1(1), pages 61-82, June.
    2. Celia M. Reyes & Christian D. Mina, 2009. "Profitable Use of SCF in a Policy Context : the Case of Rice Stockholding in the Philippines," Development Economics Working Papers 22686, East Asian Bureau of Economic Research.
    3. Majah-Leah Ravago & James Roumasset, 2009. "Economic Policy for Sustainable Growth and Development vs. Greedy Growth and Preservationism," Working Papers 200909, University of Hawaii at Manoa, Department of Economics.
    4. James Roumasset, 2010. "Wither the Economics of Agricultural Development?," Asian Journal of Agriculture and Development, Southeast Asian Regional Center for Graduate Study and Research in Agriculture (SEARCA), vol. 7(1), pages 1-22, June.
    5. Majah-Leah Ravago & James Roumasset, 2016. "The Public Economics of Electricity Policy with Philippine Applications," Working Papers 201613, University of Hawaii at Manoa, Department of Economics.

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