Hunger, A Man-Made Object – Speculation
Thursday 4 August – Sunday 6 November
Molinos’ large body of work often deals with hunger as a man-made object. “Buy the rumor, sell the news” is the motto of the stock market, the engine that moves intangible, future markets. These intangible markets monetize harvests not yet planted, and anticipate the reaping by buying and selling future crops based on interpretations of mathematical models. This kind of commerce is termed “high frequency”, because they can conduct a larger number of transactions as what they sell is contracts rather than physical grain. The demand of these grains is considered inelastic as they are essential, and this quality has turned them into important products. They are always easily disposable on the market, and can always find a buyer who will pay regardless of cost. Since the 2008 crisis, the investment in food markets has grown exponentially. After the collapse of the real estate market, grain is the new financial instrument, resulting in the highest volatility of food prices to date, with prices skyrocketing at an unprecedented speed.