This book provides a fresh look at the economics of modern commodity marketsand the role of collusive international agreements in controlling world pricesfor na... » 

This book provides a fresh look at the economics of modern commodity marketsand the role of collusive international agreements in controlling world pricesfor natural resources. It goes beyond the example of petroleum and OPEC to alsoexamine the structure of international commodity markets for bauxite aluminumore cocoa coffee rubber sugar and tin and the conditions that led to theformation of cartels in those markets during the latter half of the twentiethcentury.Specifically the author addresses four major aspects of internationalcommodity markets patterns of production and consumption economicdislocations to both importers and exporters due to price fluctuations theformation of cartels in response to weak and variable commodity prices and thelikely effects arising from tightening raw material markets. The book alsoincludes a detailed examination of the future of each of the cartels and whatrole technology 24hour trading and decreasing foreign direct investment inproducing countries will have on commodity markets. «