Complexities of economic woes

Larry Wood
Published: April 22, 2008

The global economy is experiencing massive perturbations. There are numerous and complex reasons for this.

However, what is clearly at the core of this predicament is the accelerating cost of crude oil and many other commodities essential to the fundamental economic survival of mankind —  primary food ingredients such as wheat and rice.

I’m for capitalism and free economies; but it is also clear the basic laws of supply and demand are not the root cause of the situation. There are forces at work by a small group that are working to the disadvantage of mankind.

What I wonder is why the leaders of the G-8 nations haven’t called an emergency session to see what leverage they can collectively apply to bring some order and or discipline to the markets.

Waiting until July for the next scheduled meeting reminds one of Nero watching Rome burn. At what point does doing something for the common good of all people trump the manipulation of the marketplace by the few?

LARRY WOOD

Manassas