Source: Cobden Centre
by Ali Hashemifara
“You have probably heard of the widely believed myth that Napoleon was very short. Evidence proved after his death, however, that he had a completely normal height. Historians, interestingly, have mentioned that this narrative could have spread so thoroughly due to British painters drawing him short almost in a sarcastic way. Myths such as this, however irrelevant, do not alter the truth. Some myths, however, are so powerful that they make truth appear like a myth. This is the case of ‘Giffen goods’ — goods that are demanded more when their prices rise. Many believe that there can be some special, so-called Giffen goods that can exclusively have an upward-sloping demand curve. Historically, mathematically, and economically, this is impossible.” (03/24/26)