The Financialization of Food: An Inquiry into the 2008-2011 Food Price Spikes

This dissertation investigates the question: has financial speculation contributed to global food price volatility since the mid 2000s? I problematize the mainstream academic literature on the 2008-2011 food price spikes as being dominated by neoclassical economic perspectives and offer new conceptual and empirical insights into the relationship between financial speculation and food. Presented in three journal style manuscripts, manuscript one uses circuits of capital to conceptualize the link between financial speculators in the global north and populations in the global south. Manuscript two argues that what makes commodity index speculation (aka ‘index funds’ or index swaps) novel is that it provides institutional investors with what Clapp (2014) calls “financial distance” from the biopolitical implications of food speculation. Finally, manuscript three combines Gramsci’s concepts of hegemony and ‘the intellectual’ with the concept of performativity to investigate the ideological role that public intellectuals and the rhetorical actor the market play in the proliferation and governance of commodity index speculation. The first two manuscripts take an empirically mixed method approach by combining regression analysis with discourse analysis, while the third relies on interview data and discourse analysis. The findings show that financial speculation by index swap dealers and hedge funds did indeed significantly contribute to the price volatility of food commodities between June 2006 and December 2014. The results from the interview data affirm these findings. The discourse analysis of the interview data shows that public intellectuals and rhetorical characters such as ‘the market’ play powerful roles in shaping how food speculation is promoted, regulated and normalized. The significance of the findings is three-fold. First, the empirical findings show that a link does exist between financial speculation and food price volatility. Second, the findings indicate that the post-2008 CFTC and the Dodd-Frank reforms are unlikely to reduce financial speculation or the price volatility that it causes. Third, the findings suggest that institutional investors (such as pension funds) should think critically about how they use commodity index speculation as a way of generating financial earnings.

Conjuring Canadas: Historians and the Quest to Define a Canadian Nation and its Past, 1920-1967

This dissertation examines the various ways in which Canadian historical researchers confronted the “Canada question,” namely the challenge of defining the basis of a unified national community. In doing so, it follows the scholarship and activities of a network of historians and intellectuals centred on the Canadian Historical Review, a quarterly publication founded in 1920. This study examines their scholarship with the aim of identifying not only the various solutions they posed to the problem, but also the philosophical undercurrents that informed their reasoning in the process. It also traces the rise of a rival network in the Revue d’histoire de l’Amérique française, a French-language historical publication founded in 1947 that by its very existence posed a significant challenge to the definition of the nation at the core of the Canadian Historical Review. This dissertation argues that the network bound together by the Review was engaged in a hegemonic project, one that sought to present a particular definition of Canada through a historical narrative that rested upon a liberal logic. Yet the greatest sustained challenge they faced in this endeavour emerged from Francophone historical scholars, who, although proposing vastly different Canadas to those imagined at the Canadian Historical Review, came under the sway of a number of liberal currents of thought as well. A detailed summary of the key traits of these liberal Canadas is found in the conclusion.