Explanation for increase in sex workers in Ukraine and increasing prices….inflation not Veblen goods?
Econofix writes/cites in his blog:
Neither are sex services consistent with other types of goods that have upward-sloping demand (Giffen goods, goods with network effects, goods with bandwagon effects).
More likely, Uralpolit.ru and the Moscow Times have demonstrated temporary economic illiteracy. Increased supply doesn’t increase prices. On the other hand, inflation does increase prices and that is what is being observed.
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