skimpflation

Anticapitalists say that capitalism must create food shortages in order to make money. But economist Jeremy Horpedahl says that this is a silly idea. He showed an image from the Bureau of Labor Statistics (BLS) that showed a big drop in how much people spent on food as a share of their income, from 44 percent in 1901 to just 9 percent in 2021. This is something to be happy about, and it's likely because there are so many market countries.