Tag: ruoan
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1. The Third-Order Effect: Physical Shortages The Shift from Price to Availability The first two orders of effect were about price. The third order is about availability. A price shock can be absorbed, deferred, or passed on. A physical shortage cannot. When the truck does not arrive, the shelf is empty. When the container does…
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1. The Second-Order Effect: Food The Transmission Mechanism Diesel does not stay in the fuel tank. It enters the food system at every node. Farmers burn it to plough, sow, spray, and harvest. Trucks burn it to move grain, fertiliser, and refrigerated produce. Ships burn it to bring imported inputs and finished goods. The European…