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- W4245381567 abstract "This is the occurrence of a positively-inclined demand curve. Henry Beeks remarked upon the paradox in 1800 (Rashid 1979), but a far more clear and complete statement of it was given by Simon Gray in 1804 (Gray 1815). ‘Part of the population lives so much on bread’, he wrote, because ‘their incomes are not sufficient to enable them to buy meat, &c. even when bread is cheap. All the surplus after buying bread, and some necessary articles of clothing, is laid out, indeed, on these more desirable species of food.’ The result is that ‘to raise the price of corn [grain] in any great degree, tends directly to increase the general consumption of that necessary’, because some of the surplus has to be used to buy more bread; and ‘in proportion as bread rises in price, the surplus decreases, till at length there is no surplus at all’ (ibid., pp. 505–6; and see Powell 1896; Masuda and Newman 1981). The most famous statement of the paradox was given by Alfred Marshall:" @default.
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- W4245381567 date "1987-01-01" @default.
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- W4245381567 title "Giffen’s Paradox" @default.
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- W4245381567 doi "https://doi.org/10.1057/978-1-349-95121-5_1109-1" @default.
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