Commodities, Governance and Economic Development Under by Machiko Nissanke, George Mavrotas

By Machiko Nissanke, George Mavrotas

Alfred Maizels' paintings on commodity exchange and costs documented tendencies in a massive zone of foreign monetary relatives. This booklet elaborates the information within the culture of Maizels' contributons, and discusses and extends those theories in terms of present difficulties.

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Com - licensed to ETH Zuerich - PalgraveConnect - 2011-05-13 12 Subsequent academic contributions At this point, Alf took a well-merited retirement from the UN and returned to London and fresh academic endeavours. At first, he worked at University College, London on two research projects that were not directly connected to commodity policy. 1057/9780230274020 - Commodities, Governance and Economic Development under Globalization, Edited by Machiko Nissanke and George Mavrotas to specific kinds of donor interest – geopolitical strategy (USA), maintenance of colonial links (France) and trade (UK).

There were moments in the late 1970s when it seemed that some sort of bargain might be attainable between the industrial and developing countries around the new financing for the reduction of commodity price volatility by means of buffer stocks plus a new facility, a second window of the Common Fund, for financing commodity diversification. In the end, however, this package of policies was insufficiently attractive to those representing the consumers in industrial countries. At the same time, the developing countries were ambivalent about the original Common Fund proposals and too divided among themselves to be able to apply serious economic pressure on the West.

4 billion people). Add to the above the recent collapse of commodity prices, and we can fully understand how timely and relevant Alf Maizels’ conclusions still remain after so many years. In particular, Alf’s suggestions on the need to take action and create safety nets and compensatory schemes to protect the poor from abrupt fluctuations in commodity prices (Maizels 1992, Maizels et al. 1997) and external shocks are so relevant to the current discussion and debate on ‘vulnerability funds’, ‘food security issues’ and ‘global financial regulation’.

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