Libertarian Jackass

"Life is short, but truth works far and lives long; let us speak truth." -- Schopenhauer

Friday, September 02, 2005

EMPIRICAL EVIDENCE OF GIFFEN GOODS? A friend from Beverly Hills called to suggest that, as the looters are choosing the goods (after all, they can't steal everything), the goods which they would loot last (or not at all) are the Giffen goods. That is, as the price falls to zero, demand for these goods also falls?

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