Talk:Economics Lecture Four

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Re. your question on the Irish Famine - the actual number who died is usually judged to be between 750,000 and 1m[1][2]. TadghOB 12:40, 12 June 2009 (EDT)

The Giffen Legend seems to be a perfect example of people irrationally holding on to a theory, even when there is no evidence to support it. --Ed Poor Talk 16:20, 25 August 2009 (EDT)

MJ "was unsuccessful after he switched teams late in his career."

Jordan came back with the Wizards in 2001 at age 38 with two gimpy knees. Could you still ball as well at 38 as you could when you were 24? Wayne 17:12, 20 September 2009 (EDT)

Giffen goods + Veblen goods

I wonder if in the section on Giffen goods you should also include a bit on Veblen goods, which are goods that increase in demand as price increases because their perceived quality goes up. Such goods include diamond rings and expensive cars etc. They are not related to giffen goods except that they are another interesting example of a paradox in economics. --DamianJohn 18:31, 3 March 2013 (EST)

Excellent suggestion - which helps students understand Giffen goods better due to the contrast. I added the Veblen goods to the lecture. Thanks for mentioning this.--Andy Schlafly 22:10, 4 March 2013 (EST)