Here’s how Jeffrey Sachs starts a recent article in Scientific American:
Life at the bottom of the world’s income distribution is massively risky. Households lack basic buffers — saving accounts, health insurance, water tanks, diversified income sources and so on — against droughts, pests and other hazards. The bodies of the poor often lack enough nutrients to rebuff diseases. Even modest shocks, such as a temporary dry spell or a routine infection, can be devastating.Â
He uses this platform to launch a plea for innovative forms of insurance, things like weather-linked bonds combined with other financial services for farmers. The Millennium Village of Sauri in Kenya has apparently been having some encouraging experiences with such instruments, and they certainly seem worth exploring and testing. Anything that helps farmers manage risk must be welcome.
But what about the best agricultural insurance policy of all? What about agricultural biodiversity, in all its guises? Not much — or any, in fact — talk about agrobiodiversity from Prof. Sachs, beyond that “and so on.”