4. Fiat money and fiat food

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How has the move to an easy and centrally-planned money in the twentieth century affected the quality of food? This paper outlines several economic mechanisms through which a monetary standard could impact the economic decisions of food producers and consumers. The central planning of interest rates leads to a higher incentive for extensive industrial agriculture that generates short-term profits but depletes the soil in the long term. Government policies have also promoted the mass production of industrial foods which help fight price rises, but compromise food nutrient content and safety. (10,017 words)