The Security Trap
Even as the world becomes more integrated, the word “security” crops up again and again, as in “food security” or “energy security,” which typically means a country creating and controlling domestic production facilities no matter what the cost. But such decisions merely lead to collective economic insecurity.
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CHICAGO – Even as the world becomes more integrated, the word “security” crops up again and again, as in “food security” or “energy security.” Typically, this means a country creating and controlling production facilities no matter what the cost. Thus, Arab countries grow water-hungry grain in the desert, and China acquires part ownership of oil companies in Sudan. Are these economically sensible actions? If not, what should the world do to reduce the need for them?