This chapter assesses the root cause of the famine in Malawi in 2001-02. It assesses the explanatory power of two theoretical frameworks ('food availability decline' and 'exchange entitlement failure') and proposes a new theoretical explanation for the Malawi famine - the 'controlling institution' hypothesis, which suggests that certain powerful groups may have had an interest in creating and perpetuating food crisis conditions in Malawi in 2002. Also examined are three underlying vulnerability factors: demographic/health, economic, and political. The chapter concludes by arguing that the Malawi famine was not simply a failure on the part of those who should have prevented it; it was in many significant respects a 'success' for those who benefited.