This is the problem with having the governmentally Great and Good discuss something:
The world will be blighted by supply disruptions, volatile prices, environmental damage and rising political tensions if governments fail to act as competition for resources intensifies, an influential think-tank has warned.
Analysts at Chatham House say that short-sighted policies compound tensions created by the rise of new economic powers. The London-based group called yesterday for an alliance of the 30 biggest commodity producers and importers to tackle volatile prices and ensure better co-ordination and governance of global resources.
Their only possible response to a problem is that the governmentally Great and Good should be Great and Good in their governance.
With a decent set of jollies off to nice places, but of course.
The correct answer to the allocation of commodities is…..wait for it….a market. He who is willing to pay the most gets it. And we\’ve this interesting little side effect that such rising prices call forth new supply. Nice little self-regulating system.
As opposed to some global version of GOSPLAN or, God Forbid, a rerun of the stupidity that was the International Tin Council.