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There is something called price elasticity of demand, which is how much demand reacts to changes in price. Here we're discussing food... People have to eat so
by mytailorisrich 4y ago
There is something called price elasticity of demand, which is how much demand reacts to changes in price.
Here we're discussing food... People have to eat so demand for food, at least staples, does not change much when prices rise as long as people can afford to pay (and by and large currently they can).
It should also be noted that in developed countries the price of food has collapsed as a proportion of people's income over the last 100 years. So the reality is that even if prices double demand will probably not change much apart from some arbitrages (go to cheaper brands/supermarkets, drop in demand of a few luxury items and non food items).
- dangwhy 4y ago> People have to eat People in west vastly overestimate how much they have to eat. We wouldn't have health epidemic if people can just stop eating all the time.
- slaymaker1907 4y agoThis is complete nonsense. Yes, people overeat, but it only takes a small surplus of calories to put on weight.
- dangwhy 4y agoyou really think americans are eating 'small surplus' ? Last year that number was 3600 ( fda recommendation is 2000, for reference ) imagine what will happen to food prices if americans cut their consumption by half.