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Producing food industrially like we do today causes tremendous global economic losses in terms of malnutrition, diseases, and environmental degradation. But because the food industry does not bear those costs and the price tag for these losses does not show up at the grocery store, it is too often ignored by economists and policymakers.The Economics of Sustainable Food details the true cost of food for people and the planet. It illustrates how to transform our broken system, alleviating its severe financial and human burden. The key is smart macroeconomic policy that moves us toward methods that protect the environment like regenerative land and sea farming, low-impact urban farming, and alternative protein farming, and toward healthy diets. The book’s multidisciplinary team of authors lay out detailed fiscal and trade policies, as well as structural reforms, to achieve those goals. Chapters discuss strategies to make food production sustainable, nutritious, and fair, ranging from taxes and spending to education, labor market, health care, and pension reforms, alongside regulation in cases where market incentives are unlikely to work or to work fast enough. The authors carefully consider the different needs of more and less advanced economies, balancing economic development and sustainability goals. Case studies showcase successful strategies from around the world, such as taxing foods with a high carbon footprint, financing ecosystems mapping and conservation to meet scientific targets for healthy biomes permanency, subsidizing sustainable land and sea farming, reforming health systems to move away from sick care to preventive, nutrition-based care, and providing schools with matching funds to purchase local organic produce. In the years ahead, few issues will be more important for individual prosperity and the global economy than the way we produce our food and what food we eat. This roadmap for reform is an invaluable resource to help global policymakers improve countless lives.
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About the Author
Nicoletta Batini is a scholar of innovative monetary and fiscal policy and is a leading expert in the design of macroeconomic strategies to deal with the climate change/public health nexus. Prior to joining the International Monetary Fund’s Independent Evaluation Office, she was Advisor of the Bank of England’s Monetary Policy Committee, Professor of Economics at the University of Surrey, and Director of the International Economics and Policy Office of the Treasury in Italy.