The Giffen Good
Minor Issues
- Published
- February 7, 2026
- Summary source
- description
- Last updated
- Apr 26, 2026
Discusses Has silver become a Giffen good, the famous textbook anomaly where higher prices supposedly lead to …
Summary
Has silver become a Giffen good, the famous textbook anomaly where higher prices supposedly lead to higher demand? In this episode, Mark Thornton argues the story is compelling... but wrong. Mark explains why recent surges in silver demand amid rapidly rising prices don’t overturn the law of demand. They reflect shifting demand curves as market conditions…
Show notes
Has silver become a Giffen good, the famous textbook anomaly where higher prices supposedly lead to higher demand? In this episode, Mark Thornton argues the story is compelling... but wrong. Mark explains why recent surges in silver demand amid rapidly rising prices don’t overturn the law of demand. They reflect shifting demand curves as market conditions, expectations, and classifications change. The bottom line is that silver is not a paradox: it’s a timely lesson in how markets adjust while e