Source: Ludwig von Mises Institute
by Mark Thornton
“The mysterious Giffen has once again risen from the ashes. In this iteration, it’s silver in the red-hot precious metals market. This so-called anomaly makes for a great story and interesting explanation, but it does not represent a genuine exception or a valid attack on the fundamental laws of economics. It is another example of the questionable scholarship of the Grand Wizard of Mainstream economics, Alfred Marshall.” (04/06/26)