Inferior Goods
May 1, 2008 by Emily Farris
The New York Times today explores “inferior goods,” items we purchase or use in place of more expensive items when the economy is in a slump. Lipstick vs. designer dress we get, but this we found a little more troublesome:
The first is what economists call traditional inferior goods, what people have to buy when they can no longer afford their favorites. If you’re a salmon lover eating tuna casserole, you’re chewing on inferior goods.
Oh, really? Apparently they have not had my grown-up tuna noodle casserole with artichoke hearts and Parmesan cheese.
