VoxEU: Commodity prices: Over a hundred years of booms and busts

At VoxEU, Andrew Powell [voxeu.org] writes about

Commodity prices: Over a hundred years of booms and busts

Commodity prices are very persistent. A boom is always followed by a bust, and after a slump, a boom comes along. This column reviews some basic aspects of commodity theory and their role in the last boom. Finally, it presents arguments stating that lower commodity prices are here to stay for a while. We may have to wait many years for the next boom to come along.

 Read here [voxeu.org]