Development Roast Giving international development a proper roasting
“You Can’t Fire Your Land”: How the Humble Farmer Dethrones Free Market Economics
One of the primary lessons in Economics 101 is that of the rules of supply and demand in a market economy and their relationship to price. The basics being that the price of a product will adjust depending on the level of demand and level of supply in any given market and will eventually settle on an equilibrium when supply balances with demand.
Now we don’t need to go into all the details, as, for the sake of argument, we are interested in only one theoretical law governing this relationship. It states that should the market for a particular good get over-saturated with supply, then the price of this good will keep going down until a point where producers will stop making it or scale down their operations as they will no longer be as profitable. Read More »
What Would You Buy if You Had Much More Information Than Just the Price?
Last week Development Roast asked you what you would pay for a beautiful purple butterfly silk shawl if you received positive information about the social and environmental conditions under which it was produced.
Now how would you view products of lesser credentials if you received more relevant information about them?
Would you buy this gorgeous Thai silk pashmina if its tag said this: Read More »