The following appeared in a letter to the editor of a popular science and
technology magazine.
“It is a popular myth that consumers are really benefiting from advances in agricultural technology. Granted-consumers are, on the average, spending a decreasing proportion of their income on food. But consider that the demand for food does not rise in proportion with real income. As real income rises, therefore, consumers can be expected to spend a decreasing proportion of their income on food. Yet
...
technology magazine.
“It is a popular myth that consumers are really benefiting from advances in agricultural technology. Granted-consumers are, on the average, spending a decreasing proportion of their income on food. But consider that the demand for food does not rise in proportion with real income. As real income rises, therefore, consumers can be expected to spend a decreasing proportion of their income on food. Yet
...