Monday, January 2, 2017

Let's look at an abstract

Marginal Revolution discovers a gem.

In this article World Bank poverty estimates are used to systematically test the relationship between changes in poverty and exogenous changes in real domestic food prices. We uncover indicative evidence that increases in food prices are associated with reductions in poverty, not increases. We empirically explain this result in terms of relatively strong agricultural supply and wage responses to food price increases, and the fact that the majority of the world’s poor still heavily rely on agriculture or agriculture-related activities to earn a living.
I go further.
 Flexible, and compressible pricing, implies the pricing ring is precise. Hence the economy operates with greater predictability of the arrival of goods.  The system supports greater complexity in distribution networks without jams. Send me a  Swedish Banana.

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