PALM: Nomics or Palmonomics (Conference Paper Slides)

Abstract

"Never Get High on Your Own Supply:" caution to policy makers of producing centers. "Economics teaches that the market economy, if left on its own devices it will maximise the utility of each individual and to the best of all the possible worlds. However, now we see how a flood of new ideas is providing us with the tool to shape a better, fairer and more sustainable economy. These ideas come from diverse sources: new areas of mathematics, social movements like environmentalism or feminism and also the ancient discipline of ethics. Current economic theory is less a science that an ideology peculiar to certain period of history, which may well be nearing an end" - EconoMyths. Paper will discuss various "economic terms/buzzwords" which has flooded the market in recent times, post which it will unveil "PALM:nomics." The new concept/paradigm/buzzword which I am proposing is not confined to the commodity markets or commodity alone but it deals with the relationship between economic policies and price change of commodity/commodities, it tries to demystify that the economic policies at producing centre and various external economic factors along with closely related commodities, which play a major role in influencing the price behaviour besides commodity/commodities fundamental "S&D." It also cautions key producers on "Never Get High on Your Own Supply" and deprive the consuming centre. Further to that paper will also explore the behaviour of key consuming centre (.i.e) India, and how price change influences the decision making process.Last but not the least, paper will conclude by revisiting palm price forecasts for 2016.