Whatever reason we wish to give for the rise in commodity prices—oil and food, especially--, I think we can safely say that many models point to large players distorting the market, be they hedge funds, Fed interest rates, or countries controlling the resources.Slowly but surely, I am coming to the opinion that “local” has some advantages over “global.” To illustrate my point, consider how our trade agreement with Mexico was framed, particularly in terms of corn.NAFTA shifted Mexico's...