notices - See details
Notices
MS
Manuel Stagars, CFA, CAIA, ERP (not verified)
31st October 2014 | 6:54am

Hi Matt,

You are right, no "real" Giffen goods have been discovered, according to the economics literature. I still find it an interesting filter to look at certain things, though.

Besides the examples in the text, there used to be a thing called "third class" in trains, with wooden benches. Since everybody has become affluent enough to ride at least second class, this is history. Some animal products that people used consume a century ago to make use of the entire animal are another example. They disappeared entirely.

It's up for debate what exactly caused them to vanish. Still, it's interesting to keep the dialogue about these early economics ideas going.

Best, Manuel