Let Them Eat Cake: Why Food Inflation Has Skyrocketed Out of Control
8th June 2021
Inflation isn’t observable in technological fields – anything attached to the internet becomes deflationary over time through Moore’s law. Yet, inflation’s nightmarish effects exist and its worrisome presence is seen in commodities, namely through the price of food. Even though agricultural technology has reshaped the way farms work, the nominal price of food has exploded at a machine-gun clip, making subsistence living soon-impossible for much the world.