Why Did the World's Fanciest Food Suddenly Get Cheap?
You think of caviar as one of the rarest foods on earth. It isn't anymore — and almost nobody noticed. In 2003, a small team in China bet on sturgeon farming, waited over a decade for the fish to mature, and ended up controlling 60% of the world's caviar supply. Wholesale prices nearly halved. The menu price didn't. In this video: the Veblen good problem, why aluminum once cost more than gold, and why diamonds are the one luxury good that never had to play by these rules. 🔔 Subscribe for more videos that turn ordinary questions into extraordinary answers. #Caviar #China #Economics #VeblenGoods #Luxury
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