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From the wikipedia article: "As an example of where the paradox did not occur, large improvements in farming productivity (including the Third Agricultural Rev
by marky1991 2y ago
From the wikipedia article:
"As an example of where the paradox did not occur, large improvements in farming productivity (including the Third Agricultural Revolution) led to lower food prices but did not result in increased demand for food. (Demand for food is inelastic.) This instead led to lower employment in the farming sector, which declined from 40% of Americans in 1900 to less than 2% in 2024.[14]"
But generally, I don't see the relevance. Jevon's paradox is about lowered costs driving further demand; how does a non-browning banana lower the cost of bananas?
- vacuity 2y agoThank you for pointing out that food demand is inelastic, that does shift my perspective somewhat. A complication about demand for food is that American culture promotes luxury and overindulgence. Still not elastic, but more food waste than is "normal". In general, buying more food should cause more food waste. > But generally, I don't see the relevance. Jevon's paradox is about lowered costs driving further demand; how does a non-browning banana lower the cost of bananas? I think cost is not as relevant here, moreso that people will buy more bananas, as they will brown less quickly, but will often overshoot.
- neoecos 2y agoI'm guessing the impact on this from the GLP drugs. I remember a post last week about the impact on the economy of the growing usage of this appetite suppression drugs.
- TulliusCicero 2y agoOverall food demand is inelastic, people can only eat so much. But specific foods can absolutely be elastic, different types of food kind of come in and out of vogue (avocado usage in the US is massively up over the last few decades).