Recent comments in /f/dataisbeautiful

YamInternational_Yam t1_j30ueoe wrote

Shrinkflation means getting less product for the same amount of money, which is inflation. It specifically refers to brands reducing portions (e.g. reducing 12 oz soda to 11.2 oz, or 16 oz chip bags to 14 oz) but charging the same amount.

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mo_alanazii t1_j30u9bx wrote

you got your vaccine dose in an hour, i got my vaccine in 5 min. Poor people in Africa are struggling to get their vaccine. The same thing in part of south America. We don't flexing anything. We welcome all the world in our country. Always remember you can argue with anyone but the more important "be polite"

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ShazbotSimulator2012 t1_j30ru72 wrote

Does it not look correct for anyone else?

Viewing it on a W10 PC in Chrome, and every circle is the same size when the article says they should be scaled by death count, and the water pumps themselves aren't appearing on the map, so it's less clear than the original

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scmrph t1_j30iw9b wrote

Yes and no, in terms of a direct demand side shock effect you are partially right, there is not a 1 to 1 reduction of consumption, but any reduction in demand will equate to a reduction in both price and net consumption, say a 50% reduction in demand leading to a 15% reduction in price and 15% reduciton in total volume consumed (numbers depend on price elasticity and shape of the supply curve)

In the long term though there is profitability to consider, sufficient reduction in demand leads to reduced profit margins (due to decreased price). This will cause suppliers to reduce production/drop out of market until marginal cost=marginal gain again. Depending on the impact of economies to scale on the production side this can drive the price back up to anywhere from somewhat below the original price to wildly above it. Either way with the rebound in price as the supply curve adjusts itself downwards to handle the new reality there will be further reductions in total volume consumed.

I dont really have a side in this debate, I eat meat but food price going down is not a bad thing and even if the meat economies collapse that will redirect fertile land production towards other crops (meat is terribly inefficient land & water-use wise, especially after considering land used to grow feed), but economics doesnt at all dictate a fixed consumption rate, reduced demand will pretty much always lead to *some* reduction in volume consumed. This holds true for any product from oil to diamonds to diapers.

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trentgibbo t1_j30hxvr wrote

Firstly. Calling out bullshit and being an asshole about it are different things.

Secondly, you want to talk economics? OK let's do it.

Price of meat is actually artificially high due to high demand and lower supply. This prices people out of the market (particularly premium cuts). You can easily see this in the price of beef over the last 10y.

What do you think will happen when demand softens by 1/7th?

Price will soften which will increase demand again and you'll have a net zero change.

It's basic economics and you're being willfully dumb.

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Varnu t1_j30di2n wrote

I mean, insects are animals and we probably eat dozens in some days. And if we include animals that are killed while harvesting crops—voles, shrews, mice, millions of insects and worms—a few shrimp here or there is a rounding error.

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