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Inelastic goods that lack subsitutes - usually subsitutes are readily available even if they are inferior. Using wooden plows instead of steel ones is technical
by Nasrudith 7y ago
Inelastic goods that lack subsitutes - usually subsitutes are readily available even if they are inferior. Using wooden plows instead of steel ones is technically a fix to the problem even with the performance loss involved.
The Irish Potato famine technically qualifies as one given Malthusian claptrap was used to excuse exporting grain in a famine as "addressing unsustainable population growth".
The failure there was that the farmers couldn't afford the available food despite being responsible for its production. The rentseekers played themselves too by damaging their investment - Ireland's population /still/ hasn't caught up.