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It’s literally just a special case of the idea of price elasticity, a pretty core and uncontroversial idea in economics. For many (but not all) goods - if the p
by kennywinker 5y ago
It’s literally just a special case of the idea of price elasticity, a pretty core and uncontroversial idea in economics. For many (but not all) goods - if the price goes up, demand goes down. If the price goes down (due to efficiency improvements) the demand goes up.
If overall resource consumption stays the same or increases, then boom: Jevon’s paradox. And experience shows me that’s the norm, not an exception.