The f(x) of a Market
Here's a quick Seinfeld clip from an episode where Jerry is dating a Miss America contestant. Kramer appointed himself her chaperone and while at dinner, he asks the classic Miss America question: "What would you do to make the world a better place?"
She replies, that she would try to end world hunger: “If everyone ate one meal less, there would be enough food to feed the world." Hmmm....
This is an example of the misconception that for others to have more, we must take less. The problem this Miss America contestant doesn't quite get is...the functions of markets are to provide opportunities for the exchange of goods and services, as well as allocating resources to their highest-valued uses.
So when you waste food, it really has no impact on the starving kid in Africa, he'll still be starving if you eat that last piece of chicken or not.
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Paul Hill, Ph.D.
I design, plan, and evaluate economic development programs for Utah State University.
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