ABSTRACT
D. Gale Johnson has prepared a lucid and persuasive assessment of the current world food situation. Professor Johnson argues that in spite of his cautiously optimistic assessment of factors affecting hunger and undernutrition, “there is no room for complacency”. This chapter aims to agree that prospects for food shortages and high prices were exaggerated during the panic market period of 1973-1975, and they continue to be exaggerated by some scholars. At a minimum, short-term threats to the lacking personal sources of reserves and resentment over inequality will increase pressure for governments to intervene in markets through subsidy programs. Most people want strong governments and want them to intervene in markets, at least in research and innovation markets or the world nuclear weapons market. The task is to work to improve the role of government in structuring optimal conditions for markets to operate in.
