Resource Library

Famines and Economics

Author : Ravallion, Martin

Publisher: The World Bank (WB)

Place of Publish: USA, New York

Page Numbers: 51

Acc. No: 1903

Class No: 338 RAV

Category: Books & Reports

Subjects: Production

Type of Resource: Monograph

Languages: English

Famines have been the cause of death and suffering around the world. This paper seeks to understand the economic and political factors that make the poor vulnerable to famine and looks at the recent history of famine from a micro perspective and the factors that play a role in individual’s choices during famines. In addition, it looks at different areas focusing relationship between morality and consumption and the micro determinants of morality. It shows how similar shocks can result in dissimilar outcomes. The paper looks critically at the role of markets and institutions arguing that economic failures too cause famine. It discusses the food market, the labour and other markets and governments. Each section is analysed in great detail with the aid of facts, research, diagrams and the discussion of different opinions. It further argues that a ‘moral economy’ and public action may have saved many lives. This paper goes on to look at policies that should be enacted before, during and after a famine. Based on its content, the paper also includes conclusions regarding famines and economics.