“
[W]hile income determines the position of the demand curve for food, an individual who purchases food at higher market prices might consume less of it than a self-sufficient peasant isolated from the market... even if the income of the former is greater...
— John Komlos
What It Means
This is a placeholder explanation generated by the low-overhead model. It interprets "[W]hile income determines the position of the demand curve for food, an individual who purchases food at higher market prices might consume less of it than a self-sufficient peasant isolated from the market... even if the income of the former is greater..." in the context of "" to mean that wisdom is timeless.
Source:
The 'What it means' explanation text was generated by Google Gemini Flash (accessed January 19, 2026). https://gemini.google.com/app
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About John Komlos
John Komlos (born 28 December 1944) is an American economic historian of Hungarian descent and former holder of the chair of economic history at the University of Munich.
About John Komlos
John Komlos (born 28 December 1944) is an American economic historian of Hungarian descent and former holder of the chair of economic history at the University of Munich.
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