Why are food prices so absurdly high and what could be done to fix this?
In: 657
Supply and demand. Only and always. Prices rise if any only if there are enough buyers willing to pay the increased prices. And as long as there are such buyers, prices will increase and remain high. The only way to reduce prices is to reduce demand. Period. Nothing else will work. Obviously, we can’t reduce demand for all food across the board, but we can as individuals change what we eat and where we procure food in response to market signals (i.e., prices). Local supermarket price too high for chicken breasts? Maybe another market or a “superstore” will have better pricing. Maybe skip chicken breasts this week – try thighs or maybe another (cheaper) source of protein. Buying pre-made meals too expensive? Maybe switch to purchasing the ingredients and cooking from scratch. Etc. But unless we collectively change our food purchasing habits, prices won’t drop unless there’s a glut of one food product or another (but that works its way out of the economy quickly and then things return to the way they were).
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