Food fads…

See, I for one am happy about all these fads like organic, gluten free, etc. In free market capitalism, there is always at least two levels of same product. An “economic” version and an overpriced “elite” version. Currently all these fads are occupying the “elite” slot. Which means, people like us who do not follow the fad can buy our products from the “economic” tier. What happens if these fads go away? Then the some products currently in the economic tier have to be moved to the “elite” tier. Logically, what happens is the products in the economic tier get sorted by quality and best things will be moved to the elite tier. So the fact of the matter is, as long as there are these fads and idiots who follow them, they will occupy the overpriced elite tier and we can have quality products in our economic tier.

Fig 1: Source
Fig 2: Source

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