Disappearing nature? Agribusiness,biotechnology and distance in Argentine soybean production

A recent trend identified in the agro-food literature is that financialization in the global food system is further increasing the distance between farm and plate as well as abstracting physical commodities into market derivatives. How does food, a basic material need, become a commodity, a financial asset divorced from its physical form? This contribution explores the growing distance and abstraction of food from farm using Argentina's soy model as a case study. I explore the various drivers of distancing across the soy value chain in Argentina, including industrialization, globalization, corporatization and finance. I argue that the push for technological innovation by large-scale agribusinesses, in articulation with financial sector involvement, are both an example of and are instrumental in the process of distancing and abstraction identified in the agro-food literature. This paper also highlights how, despite agribusiness efforts to ‘displace’ and ‘disappear’ nature, these processes are never fully accomplished. I thus reflect on the socio-ecological contradictions that arise from the processes of distancing and abstraction which accompany the financialization of the corporate food system under neoliberal globalization.     

Financialization,distance and global food politics

This paper provides a new perspective on the political implications of intensified financialization in the global food system. There has been a growing recognition of the role of finance in the global food system, in particular the way in which financial markets have become a mode of accumulation for large transnational agribusiness players within the current food regime. This paper highlights a further political implication of agrifood system financialization, namely how it fosters ‘distancing’ in the food system and how that distance shapes the broader context of global food politics. Specifically, the paper advances two interrelated arguments. First, a new kind of distancing has emerged within the global food system as a result of financialization that has (a) increased the number of the number and type of actors involved in global agrifood commodity chains and (b) abstracted food from its physical form into highly complex agricultural commodity derivatives. Second, this distancing has obscured the links between financial actors and food system outcomes in ways that make the political context for opposition to financialization especially challenging.     

Corporate power in the agro-food system and the consumer food environment in South Africa

This contribution maps the South African agro-food system with a focus on corporate ownership and power, inspired by value chain work applied to the food system as a a whole. Corporations tend to dominate some nodes, for example input supply, grain storage and handling, and feedlots. Other nodes have a corporate core but with a wide number of smaller economic actors, for example agricultural production, food manufacturing, wholesale and retail, and consumer food service. This wide number of actors points to possible areas of intervention to boost livelihoods by supporting their economic activities. The paper considers the influence of corporations in structuring consumer perceptions on food quality and health, from input into apparently neutral dietary-based guidelines to advertising. Financialisation in the food system, including the institutionalisation of share ownership and the rise of agri-investment companies, and the multi-nationalisation of South African agro-food capital especially into Africa, have implications for the ability of the nation state to regulate activities in the agro-food system. The paper concludes with some recommendations for further work.     

‘Pinstripes on the prairies’: examining the financialization of farming systems in the Canadian prairie provinces

Drawing on recent scholarship on the financialization of agro-food systems and the global land grab, this paper examines new forms of financial investment in agriculture in the Canadian prairie provinces. We examine the factors underpinning investor involvement in the sector, including its anticipated financial performance as well as processes of agricultural restructuring that, combined with government actions to liberalize farmland ownership, have facilitated the enrollment of land and labour into new financial vehicles. We focus in particular on the emergence of two new forms of investment vehicles – farmland investment funds and an exchange-traded farming corporation – comparing the business model and investment strategy of each. In doing so, we highlight the ways in which the new investment patterns may propel the restructuring of the agricultural sector, alter power relations among key actors, and introduce new logics into the farming landscape. Our findings allow us to comment on the relevance of the land grabbing frame for making sense of the financialization of agriculture in the global North.     

No hay ganancia en la milpa: the agrarian question,food sovereignty,and the on-farm conservation of agrobiodiversity in the Guatemalan highlands

Although they receive little recognition for their contribution, peasant farmers in the global South play a fundamental role in securing the long-term global food supply. Via their self-sufficient agricultural practices, they cultivate the crop genetic diversity that enables food crops to adapt to changing environmental conditions. In this paper I draw upon empirical data from the Guatemalan center of agricultural biodiversity to investigate the concern that market expansion will displace peasant agriculture and undermine a cornerstone of the global food supply. I find that even though peasants' livelihoods involve multiple forms of market provisioning, they also engage in a Polanyian ‘double movement’ to protect their subsistence-oriented agricultural practices from the potentially deleterious effects of markets. I also investigate the so-called ‘agrarian question’ about the effects of market expansion on the viability of peasant agriculture, finding that although new forms of market provisioning are likely exacerbating rural inequality, the income from market activities actually enables rural Guatemalans to reproduce the conditions for peasant agriculture. Ultimately, I observe that the conservation of agricultural biodiversity and, consequently, global food security are contingent upon the ‘food sovereignty’ of peasant farmers.     

A farewell to urban/rural bias: peripheral finance capitalism in Mexico

Based on a discussion of the structural transformation of the Mexican economy, this paper investigates the impact of financialization on agriculture’s role in capitalist development. It argues that the peripheral financialized economy is a rural–urban economy. On the one hand, agriculture and industry are bifurcated into a growing export sector and a stagnating local economy, and there are no functional ‘developmental’ links between capitalist agriculture and industry. On the other hand, the economic structures have resulted in the consolidation of a huge mass of rural–urban ‘classes of labour’. Capitalist agriculture and industry are linked through and dependent on cheap labour sustaining the export economy. I argue that the current economic formation is not due to ‘urban bias’, ‘rural bias’ or any misallocation of resources among economic sectors. Rather, it can be explained in relation to ‘finance bias’: the taking over of debt relations as the key driving force of economic activities. A major contradiction in peripheral finance capitalism arises from the financing of cheap labour through debt. This is likely to result in new financial crisis, when the contradictions between increasing levels of (private and public) debt, a stagnating domestic economy, and below-subsistence level wages become too large.     

Introduction: New directions in agrarian political economy

For four decades, The Journal of Peasant Studies (JPS) has served as a principal arena for the formation and dissemination of cutting-edge research and theory. It is globally renowned as a key site for documenting and analyzing variegated trajectories of agrarian change across space and time. Over the years, authors have taken new angles as they reinvigorated classic questions and debates about agrarian transition, resource access and rural livelihoods. This introductory essay highlights the four classic themes represented in Volume 1 of the JPS anniversary collection: land and resource dispossession, the financialization of food and agriculture, vulnerability and marginalization, and the blurring of the rural-urban relations through hybrid livelihoods. Contributors show both how new iterations of long-evident processes continue to catch peasants and smallholders in the crosshairs of crises and how many manage to face these challenges, developing new sources and sites of livelihood production.     

Flexible for whom? Flex crops,crises, fixes and the politics of exchanging use values in US corn production

Flexible allocation of crops among food and non-food uses is a key driver of global agri-food system change. Focusing on United States corn production, I explore the dynamics of flex crops, scrutinizing agri-industrial relationships and the distribution of agri-food system value and control. I situate crop flexing as exchanging use value, as opposed to converting use into exchange value without altering the commodity's use. Asking ‘Flexible for whom?' in the context of agri-food system crises, I find: (1) flex crops exacerbate contradictory food security and over supply crises, and that the distribution of flexibility and benefit in the agri-food system they provide depends on the organization of labor; (2) crises of accumulation tie flex crops to agri-food system financialization, which subordinates use to exchange value, obfuscating their relationship and distancing agricultural products and uses from their basis in nature and labor; and (3) debates over US corn flexing illustrate the utility of focusing on power and politics in crop flexing decisions and demonstrate US corn flexing to be a fix for climate and accumulation crises. Findings suggest that examining the distribution of value and control and the positions of labor and nature in the agri-food system may be productive for global flex crop research and advocacy in the future.     

Debating Agrarian Capitalism: A Rejoinder to Albritton

Despite the multiple usages of star anise, a spice harvested from trees native to northeast Vietnam and southeast China, and notwithstanding its potential as a ‘flex crop’ due to being a key component in the pharmaceutical production of the anti-influenza drug Tamiflu, little is known about who cultivates this spice and how it reaches consumers around the world. Putting commodity chain analysis literature into conversation with recent ‘flex crop’ debates, we analyse the roles of actors along star anise commodity chains originating in rural, upland northern Vietnam. Our qualitative fieldwork reveals the intricate and idiosyncratic nature of these commodity chains upon which ethnic minority cultivator livelihoods depend, and which connect uplands and lowlands through manifold linkages. Cultivators, intermediaries, wholesalers, exporters and marketplace traders are constantly having to renegotiate their positions along these chains to maintain viable livelihoods due to uncertain financial returns and shifting demands. Adding to livelihood insecurities, financial gains have fluctuated wildly over time. The segmented knowledge individuals have of these commodity chains keep many in a vulnerable position, while the Vietnamese state's approach to promoting this commodity as a way to improve local livelihoods is questionable.     

crisis,austerity and gendered governance: a feminist perspective

Feminist scholars have been highly attentive to the ways that crises have become an everyday technique of global governance. They are particularly sensitive to the mechanisms through which ‘crisis management’ entrenches the power of particular economic orders and constrains the possibilities, and space, for contestation and critique. This paper seeks to contribute to but also to extend existing feminist research on financial crisis by arguing that, over the course of what has commonly been labelled the ‘global financial crisis’, the emergence of ‘crisis governance feminism’ has enabled existing structures and mechanisms of gendered privilege, such as the global financial industry, to suppress calls for their overhaul and to re-entrench their power in the global political economy. Adopting a discursive approach to gender and governance that situates gender centrally in understanding governance discourses and their reproduction of common sense (about what people do, how they labour, where they invest and so on), this paper argues that the governance of crisis in the contemporary era, in particular the various actors, institutions, policies and ideas that have sought to describe and ‘contain’ the global financial crisis, are gendered. Gender has become, in the contemporary global political economy, a technique of governance, and with deleterious effects. Despite inciting more discussion of ‘gender’ in economic systems than ever before (particularly in terms of discussions of ‘economic competitiveness’), this paper argues that the ‘global financial crisis’ has precipitated and continues to reproduce techniques of governance that trivialise feminist concerns while further embedding a masculinised, white and elitist culture of global financial privilege.     

‘Like gold with yield’: evolving intersections between farmland and finance

Since 2007, capital markets have acquired a newfound interest in agricultural land as a portfolio investment. This phenomenon is examined through the theoretical lens of financialization. On the surface the trend resembles a sort of financialization in reverse – many new investments involve agricultural production in addition to land ownership. Farmland also fits well into current financial discourses, which emphasize getting the right kind of exposure to long-term agricultural trends and ‘value investing’ in genuinely productive companies. However, capital markets' current affinity for farmland also represents significant continuity with the financialization era, particularly in the treatment of land as a financial asset. Capital gains are central to current farmland investments, both as a source of inflation hedging growth and of potentially large speculative profits. New types of farmland investment management organizations (FIMOs) are emerging, including from among large farmland operators that formerly valued land primarily as a productive asset. Finally, the first tentative steps toward the securitization of farmland demonstrate the potential for a much more complete financialization of farmland in the future.     

Assumptions in the European Union biofuels policy: frictions with experiences in Germany, Brazil and Mozambique

The biofuel project is an agro-industrial development and politically contested policy process where governments increasingly become global actors. European Union (EU) biofuels policy rests upon arguments about societal benefits of three main kinds - namely, environmental protection (especially greenhouse gas savings), energy security and rural development, especially in the global South. Each argument involves optimistic assumptions about what the putative benefits mean and how they can be fulfilled. After examining those assumptions, we compare them with experiences in three countries - Germany, Brazil and Mozambique - which have various links to each other and to the EU through biofuels. In those case studies, there are fundamental contradictions between EU policy assumptions and practices in the real world, involving frictional encounters among biofuel promoters as well as with people adversely affected. Such contradictions may intensify with the future rise of biofuels and so warrant systematic attention.     

Contested landscapes: the global political economy of climate-smart agriculture

Analysing key initiatives in the area of climate-smart agriculture and the politics which surround them, this paper identifies the dominant discourses shaping the debate through a discussion of discursive sites of power and by mapping the emerging ‘regime complex’ of institutional power that operates at the interface of the climate and agrifood system. This is connected to forms of material power that derive from control over production, finance and technology in the neoliberal food regime by transnational capital. Such an analysis has important implications for which solutions are promoted as part of climate-smart agriculture and which actors are likely to benefit from the flows of technology, finance and institutional support that are mobilised in the struggle to define a viable global agrifood system in a warming world.     

Which territorial embeddedness? Territorial relationships of recently internationalized firms of the soybean chain

This contribution focuses on the territorial relationships established by companies of Argentinian origin that have extended their scope of action to other MERCOSUR countries (mainly Brazil) in the first stages of the soybean chain. Although some features of grain production and particularly of soybean enable a temporary commitment of these firms with local spaces, they develop some kind of foundations as a necessary condition to operate. A relevant side of their forms of territorial embeddedness is the strong selectiveness of local spaces and actors promoted by their behavior. Some local actors are in fact included; in the long term, however, their capacity to capture value is constrained since they are not able to control the terms and conditions of their incorporation.     

Sacred groves,sacrifice zones and soy production: globalization,intensification and neo-nature in South America

Soy has become one of the world's most important agroindustrial commodities – serving as the nexus for the production of food, animal feed, fuel and hundreds of industrial products – and South America has become its leading production region. The soy boom on this continent entangles transnational capital and commodity flows with social relations deeply embedded in contested ecologies. In this introduction to the collection, we first describe the ‘neo-nature’ of the soy complex and the political economy of the sector in South America, including the new corporate actors and financial mechanisms that produced some of the world's largest agricultural production companies. We then discuss key environmental debates surrounding soy agribusiness in South America, challenging especially the common arguments that agroindustrial intensification ‘spares land’ for conservation while increasing production to ‘feed the world’. We demonstrate that these arguments hinge on limited data from a peculiar portion of the southern Amazon fringe, and obfuscate through neo-Malthusian concerns multiple other political and ecological problems associated with the sector. Thus, discussions of soy production become intertwined with broader debates about agrarian development, industrialization and modernization. Finally, we briefly outline the contributions in this volume, and identify limitations and fruitful directions for further research.     

Food sovereignty and new peasantries: on re-peasantization and counter-hegemonic contestations in the Basque territory

This paper contributes to debates about the potential of re-peasantization and its contribution to food sovereignty with a case study from the global North, where such questions are relatively under-studied. I examine how Euskal Herriko Nekazarien Elkartasuna (EHNE)-Bizkaia, a Vía Campesina member organization from the Basque Country (Spain), advances food sovereignty through re-peasantization. I also analyze the motivations of new peasants engaged in agroecology, their understandings of food sovereignty, and the challenges that they face. Using a Gramscian political ecology framework, I argue that whereas re-peasantization contributes to a shift from corporatist to counter-hegemonic struggles, the political-economic and biophysical contexts structure agroecological production in ways that limit the extent to which new peasantries can become ‘agents of their own history’. I conclude that closer attention to peasants’ messy practices of making a living is needed to address questions of political agency.     

A political ecology of socio-economic differentiation: debt,inputs and liberalization reforms in southwestern Burkina Faso

This paper builds on work from the agrarian change and political ecology literatures to analyze the process of agrarian change among smallholder cotton farmers in southwestern Burkina Faso. Specifically, we use a rural survey of 72 heads of household in three villages to examine whether and how (1) access to agricultural inputs, (2) debt and (3) liberalization reforms combine to produce rural socio-economic differentiation based on wealth. We find that wealthier farmers use more mineral fertilizer and manure inputs than their poorer counterparts. Wealthier farmers are also better able to remain debt-free as cotton prices drop and input prices rise. Moreover, they are able to take advantage of the neo-liberal restructuring of cotton cooperatives to change polices on debt repayment and input provisioning to their favor. This growing divide has large implications for rural food security, particularly as land becomes scarcer, fallows disappear and the need to intensify production grows. This research addresses two gaps in the agrarian change literature in relating how liberalization reforms and biophysical elements drive rural socio-economic differentiation. This work also shows that merging the concerns of political ecology with the agrarian change literature allows for a deeper examination of rural socio-economic differentiation.     

The Changing Role of Women in Finance

Finance is a gun. Politics is knowing when to pull the trigger.' In these few words the taciturn Mafia boss Don Lucchese in The Godfather Part III highlights the inextricable link between money and power, which together represent most significant influences on society and gender throughout history. Until the 1960s the very title for this article would have been regarded as a contradiction in terms. With few notable exceptions, women and finance did not mix, largely because they were not given the opportunity to do so. Today, women represent a significant force for change in the financial services industry, both as a target market for financial products and as key employees within the financial institutions. To place the power of financial institutions in an economic context, pension funds and life assurance funds together own about two-thirds of the UK stock market, with a further tranche owned by other collective retail funds, such as unit trusts and open-ended investment companies. As a result, the investment companies that manage these funds effectively control British industry, and are the channel through which the funding for future businesses must flow. The simple fact is, therefore, that the boards of British companies are answerable on a more regular basis to private fund managers than they are to financial regulators or the government itself.     

垄断与歧视:中小企业的金融困境

资金是企业的血液,金融市场是企业重要的外部环境。我国目前金融业的垄断与对中小企业的融资歧视使其只能具有短期化行为,从而进一步恶化日益尖锐的劳动关系。     

试论自主创新与风险投资

自主创新发展高科技已成为我国调整产业结构和转变经济增长方式的一个中心环节,打造自主创新的风险投资机制,建立以企业为主体、市场为导向、政府资助和社会闲置资本为主体的风险投资体系,是实现我国自主创新、“十一五”规划的重要手段。风险投资在发达国家已取得了辉煌的成就,在我国尚处于开发阶段,完善我国的资本市场,形成风险投资的退出机制将是风险投资成败的关键。