A Mission Statement

Daily Bread examines the nexus of food and money. From the corner booth at McDonald's to the conference rooms of the World Trade Organization, this blog covers the economics that drive the food industry.

Daily Bread operates, in part, from the idea that in important ways, food is becoming the new oil. The growth of developing nations and the redirection of crops into the energy economy are putting the squeeze on food commodities. Prices are rising, and shortages are becoming increasingly common. And, as with oil, food production is doing increasing harm to the environment and to human health.

The food industry, meanwhile, is coming up against some difficult trends. The economics of food are unique in that there is a natural limit to demand: Once you have filled up a human belly, that limit is reached. For years, the industry nevertheless managed to grow in part by "adding value" to foods ("New and Improved!" "Contains St. John's Wort!"). But there is an increasing trend among consumers to get back to basics. More people are shopping in the produce section, where "adding value" is next to impossible. And they're becoming wiser to the often dubious claims that food producers put on packages. Other than through global expansion, it's hard to know where the industry will find new areas of growth. Daily Bread will follow their efforts to do so.

The industry is also dealing with increasing threats to food security: not only sporadic disease outbreaks but also fears of terrorist attacks targeting the food supply. And people are still concerned about genetically modified foods, hormone-injected livestock, and other industry practices that are meant to improve the bottom lines of food companies but that have potentially dangerous implications for consumers.

Finally, Daily Bread examines government food-policy issues, from our heavily subsidized farm system to our dismally underfunded regulatory agencies.

This all sounds a bit grim-and it is. But food is also fun, even when the subject is the buying and selling of it. Contrary to the popular saying, it is actually food, not harlotry, that is "the world's oldest profession." And it is a fascinating one. The food industry, for all its foibles, fulfills one of our most basic human needs. Daily Bread covers it with rigor and passion, but also with humor.