Most of which I think makes my original point, regardless of who's correct about demand elasticity--the only way to get those people out of that position is to improve their standard of living, and if we concentrate on avoiding pollution at the expense of industrializing the developing world, they're going to be stuck in poverty long enough that it'll be at best their children's children who start to see the benefits of industrialization.
For what it's worth, I don't think you can measure demand elasticity very well for overall food consumption in the US by store prices because there are so many artificial price supports and crap going on, but it may be the best of a set of lousy metrics. Which, I suppose, is what the original post was about in the first place :)
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Date: 2007-08-13 06:01 am (UTC)For what it's worth, I don't think you can measure demand elasticity very well for overall food consumption in the US by store prices because there are so many artificial price supports and crap going on, but it may be the best of a set of lousy metrics. Which, I suppose, is what the original post was about in the first place :)