World prices for basic food commodities increased significantly in 2007-2008, triggering a worldwide food crisis. Among all the factors that contributed to the rise in agricultural prices in 2008, the depreciation of the U.S. dollar relative to other major currencies cannot be overlooked. The...

This is a broad-ranging discussion of the role of economics and economists in the formation of government policies. The focus is on helping economists who wish to be influential in the policy process. The paper covers rationales for and against economist involvement in the policy process (market...