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by eru
44 days ago
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Gambling might be ripping though the US, maybe. But it's far from unfettered. > Or look at industries pre-regulation. Meat, building construction, medicine... You might like to read about what economists call 'Normal Goods': https://en.wikipedia.org/wiki/Normal_good > In economics, a normal good is a type of a good for which consumers increase their demand due to an increase in income, unlike inferior goods, for which the opposite is observed. When there is an increase in a person's income, for example due to a wage rise, a good for which the demand rises due to the wage increase, is referred as a normal good. Conversely, the demand for normal goods declines when the income decreases, for example due to a wage decrease or layoffs. Health and safety are normal goods. As people get richer, they demand more of them. |
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