That's a pretty big leap, from people not buying as much turkey to kids in school going hungry.
Sure supply and demand would state that if the price goes up, demand goes down. What it Doesn't state is how much demand will go down, whether that decrease in demand Actually offsets the increase in price, or whether total revenue stays net neutral.
Whole swathes of people wouldn't just stop buying turkey if the price went up a few cents, or maybe even tens of cents (but this is speculation, I'm not sure if anyone's published the numbers on how much the price of turkey would have to increase to support a higher wage). But people buy turkey over pork for a number of lifestyle reasons, too.
Suppy and demand is more of a model than a system. It's not perfect, no model is, but it's useful. But life is a lot more complicated than a simple model
Sure supply and demand would state that if the price goes up, demand goes down. What it Doesn't state is how much demand will go down, whether that decrease in demand Actually offsets the increase in price, or whether total revenue stays net neutral.
Whole swathes of people wouldn't just stop buying turkey if the price went up a few cents, or maybe even tens of cents (but this is speculation, I'm not sure if anyone's published the numbers on how much the price of turkey would have to increase to support a higher wage). But people buy turkey over pork for a number of lifestyle reasons, too.
Suppy and demand is more of a model than a system. It's not perfect, no model is, but it's useful. But life is a lot more complicated than a simple model