Record-breaking rainfall leaves fields under water, threatening this year's harvest yield and quality.
Graham Watson's insight:
This could be Microeconomic - D&S - but I've put it here because I'd like you to think about it in simple terms. How would you show this on a Production Possibility Curve (PPC)?
Then extrapolate: what does a reduction in food security mean for the main macroeconomic objectives: economic growth, inflation, unemployment, the Balance of Payments and inequality. Always, everywhere, economics in action.
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A retail group says shortages of drivers and other staff mean the sector is "just on the edge of coping".
Graham Watson's insight:
Is this the end game? A retail group is concerned about the current shortages of drivers and other staff, fearing that it will imperil UK food production and encourage some producers to leave the country.
Quite what this means for the UK's productive capacity, food prices or levels of employment is anyone's guess.
Better controls on EU goods needed as impact of Covid and Russia-Ukraine war also put pressure on standards
Graham Watson's insight:
Another article for the costs of Brexit file? However, the Food Standards Agency are warning that Brexit and the war in Ukraine driving food prices up is going to have adverse implications for food quality in the UK.
Wholesalers are facing a "perfect storm" of adverse effects, warns one leading industry figure.
Graham Watson's insight:
Just stop it!
Yet another article highlighting the issues facing the food industry, all pointing in one direction, reduced supply, higher prices and, by definition, inflation.
Just wait until we discover that we can't get all of our crops out of the ground/harvested...and then when it feeds back into wage claims...
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This could be Microeconomic - D&S - but I've put it here because I'd like you to think about it in simple terms. How would you show this on a Production Possibility Curve (PPC)?
Then extrapolate: what does a reduction in food security mean for the main macroeconomic objectives: economic growth, inflation, unemployment, the Balance of Payments and inequality. Always, everywhere, economics in action.