Price Shock: The World Economy, Upside Down - Commonwealth Club World Affairs of California
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Price Shock: The World Economy, Upside Down

June 27, 2022 — Inflation in the U.S. has reached its highest point since 1981. In developing nations, the problem is even worse. The UN says thirty-seven nations are in need of food, but can’t afford it, triggering fears of food riots. So what makes prices for necessary things – like food and fuel – so volatile?

This week, we revisit a conversation with filmmaker Rupert Russell about his book and film, “Price Wars: How the Commodities Markets Made Our Chaotic World.” Russell connects the dots between the cost of bread and oil to political upheaval around the world, and he explains why price swings by market players cause famine, conflict and crisis.

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