When I first signed up for honors microeconomics, I was unsure what to expect. Lo and behold Dr. Okunade walks in cracks a couple of jokes ans starts elaborating on the science of economics. Now economics fascinates me to the point I am thinking about a minor in economics or financing. Economics is like science. First economists observe, theorize, and then observe some more. So one day I was observing a fast food restaurant ( I don't eat fast food anymore.). And suddenly the light bulb clicked on. Why were Americans getting so fat. It couldn't be because maybe we all woke up and said we haven't consumed enough food the last 200 years. No, it lies with the efficiency.
Short definition of economics: most efficient way of allocating resources to where they need to be. History lesson: Americans always will by any means try to become more efficient. Now toss in inflation and we have a bad tasting stew starting to brew. After the September 11 attack, the U.S. economy went into a small recession. So what happened? Prices started to climb, but the income of Americans wasn't keeping up. As a result, Americans were losing the power of their hard earned dollar. And we all know that Americans like to get the biggest bang out of their buck. Here's the critical thing, the buyers have a decision to make: eat the crappy food which is cheap and gets more value or buy fruit or something relatively healthy which is more expensive. Let's take an example, a person choosing to buy a meal at Macdonald's. This person has a tight budget; he can only spend five dollars. His choices include a the Big Mac with biggie fries and a drink for $5 or a salad and drink for $5. Obviously this person is going to take the burger: 1) he's getting more food per dollar and 2) when it comes to being healthy or completely full, human instinct takes over. Consequently, we've seen more and more Americans eating less healthy because they can't afford healthy expensive foods. Americans are already workaholics; thus, they can't possibly work any more to earn extra cash. Either the wages increase or inflation decreases. I don't see any of those two possibilities occurring soon.
Being a college student, this relates also to us. Most of us are on a meal plan; so we have either $6 or richardson blue zone to eat at. We either go to richardson and eat the horrible crap or spend $6 on a fries and coke and chick-fil-a sandwich. What could be worse? Please listen to me. Everyone stop trying to be so efficient when choosing lunch or dinner. It's okay to spend less than $6 and it's okay to get something healthy even it takes more time to make.
Disclaimer: This is not the only reason Americans are fat, but it's one variable in a nasty equation.
Please on what you think of this.
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