UN: Food Prices Are Lower Today than in 1961

Food prices are (slightly) lower today than they were in 1961. Yes, that’s right. Adjusted for inflation, the United Nations’ Food and Agriculture Organization calculates, the food price index in 2015 stood at 131.2. It was 131.7 in 1961.

In the meantime, the world population has increased from 3.01 billion to 7.28 billion – a rise of 4.2 billion or 135 percent.

If you are Paul Ehrlich, Lester Brown, William and Paul Paddock, Garrett Hardin, Rajiv Gandhi and countless other followers of Reverend Malthus, this should NOT be happening. But, it is. Human beings are intelligent animals. Unlike rabbits, who overbreed when food is plentiful and die out when it is not, humans innovate their way out of scarcity.

So, happy Thursday to you all.