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.

“Come and live in my Shoes”: Food Access and social isolation for People living in poverty IN GANANOQUE, Ontario

This community-based research project, in collaboration with the Gananoque and Area Food Access Network (GAFAN), gathered data from self-reported food insecure residents of Gananoque and area to determine how to improve their access to healthy, personally acceptable food. In March 2016, I recruited 14 participants for three focus groups and one personal interview with those struggling to put food on the table for themselves and others in the household. Participants were single parents, adults over the age of 50, and adults who could benefit from improved access to healthy food but do not currently use existing services. Health issues, social isolation, scraping by, and lack of income were four themes that underscored the impact of poverty on the lives of participants. Lack of income, transportation, cost of food, lack of affordable or accessible childcare, and inadequate access to support services proved to be major barriers to food security: strongly influenced by the impact of rurality. The results of this research have the potential to help GAFAN improve food access for those living in this community. It may also have implications for enhancing food security in other rural Canadian communities.

Teen Girls’ Perspectives on Their Current Dietary Habits and Food Choices: A Qualitative Study in Jeddah, Saudi Arabia

Rapid socioeconomic development in Saudi Arabia, as a result of oil revenues, has had profound effects on people’s lifestyles, including the transformation of people’s dietary habits. Such dietary transformations, known as the nutrition transition, are common in countries undergoing rapid socioeconomic changes. This transition is significant in Saudi Arabia as the traditional Saudi diet is considered a healthy one. Adoption of the Western diet has had negative health effects on the Saudi population, especially adolescents. As evidenced in many studies, adolescents are the most affected population when it comes to changes in dietary habits and physical activity. Adolescence is a vulnerable stage of life when dietary habits are developed, often lasting into adulthood, and may not be easily changed. In the case of Saudi Arabia, youth or adolescents represent almost 60% of the population; therefore, the eating habits they develop now could have profound consequences for population health in the future. To develop effective health promotion strategies, it is important to understand the sociocultural factors that influence the dietary habits and food choices of Saudi teens. I conducted two semi-structured, open-ended interviews, using photo-elicitation techniques, with 12 Saudi girls, aged 15-16 years. Analysis of the data shows four factors that pulled the participants toward eating home cooked traditional food and five factors that pushed participants away from eating home cooked traditional foods. The research suggests that despite the attractiveness of modern, Western ways of eating for Saudi teen girls, parents still play a key role in encouraging and supporting them to eat healthy food.