Mistyrains, jantimont - you are both factually incorrect. Especially you mistyrains. Saying there are substitutes for milk and bread is just massively silly.
Milesey - whilst you MAY be right, it has never happened before.
Love the people here who think economic principles and facts are open to interpretation. It's like arguing the result of 1 + 1.
Why do you think the govt taxes petrol, alcohol, cigaretttes etc so highly?? Cos they want people to stop using them so much?.. or cos they are inelastic goods and rises in the price have little effect on demand, therefore maximising their recenue?
The naivety of some part time economic experts on here is amazing.
