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It's good to want to find a solution to the hunger problem, however the problem of chronic hunger is not lack of access to food. It's lack of money to purchase it. Dumping free food on economies that are predominantly made of agricultural workers further exacerbates the problem rather than helps it. What you propose could still be helpful perhaps for disaster relief situations, but that's the minority of the problem.

More facts here: http://www.worldhunger.org/articles/Learn/world%20hunger%20f...

"the problem of chronic hunger is not lack of access to food. It's lack of money to purchase it."

The idea is exactly to think of ways for money not to be necessary.

It's been done before, albeit not by us.

Our atmosphere is one grand f*cking infrastructure project, and it's all free-to-breathe for everyone.

How about direct conversion of C,H,O,N to carbohydrates and proteins using electricity and nanomachines? Farming is an elaborate, fragile system.
That would be "as good as it gets" with current science, I guess, so it's great if we can get to that, but I think it's a little farther down on the technology horizon.
I'm thinking not so far down. It'll be terribly valuable to 'dial up' a molecule for industry, transportation (lubricants, fuels), business. Imagine a printer toner cartridge that never got empty! SO there's money to be made. Food can't be far behind.