5 ms·
The problem is that for certain goods, the demand becomes completely inelastic for individuals: water, food, shelter, security. The starving are not, and cannot
by splitrocket 13y ago
The problem is that for certain goods, the demand becomes completely inelastic for individuals: water, food, shelter, security. The starving are not, and cannot be, rational economic actors. Slightly redenominating prices would be a small price to pay for millions of new, actually rational economic actors.