Price Fluctuation of Agricultural Products: Can the Theory of Complex Phenomena Explain It Better?

The food system and the growth of the agricultural sector are threatened by agricultural price fluctuations. This paper adopts Hayek's theory of complex phenomena to explore the simple and complex components of such fluctuations. It also identifies various underlying factors that need to be add...

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Veröffentlicht in:	The Journal of private enterprise 2022-07, Vol.37 (2), p.47-55
1. Verfasser:	Oduniyi, Oluwaseun Samuel
Format:	Artikel
Sprache:	eng
Schlagworte:	Agricultural commodities Agricultural industry Agriculture Climate change Costs Deficit financing Developing countries Drought Economic development Farm produce Food prices Food security Food supply Foreign exchange rates Hayek, Friedrich International economic relations LDCs Politics Population Poverty Sub-Saharan Africa Technology adoption Value chain Volatility
Online-Zugang:	Volltext
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Beschreibung
Zusammenfassung:	The food system and the growth of the agricultural sector are threatened by agricultural price fluctuations. This paper adopts Hayek's theory of complex phenomena to explore the simple and complex components of such fluctuations. It also identifies various underlying factors that need to be addressed to minimize the fluctuations and meet the food needs of a growing population.
ISSN:	0890-913X