America has become a 'Giffen good' in the global economy: as global insecurity increases and other developed nations face crises, capital flows disproportionately into U.S. assets as a flight-to-safety mechanism, making America economically resilient while isolated from global economic well-being, similar to how Irish poor consumed more potatoes when prices rose because cheaper staples disappeared.
causalpending
Speaker
ScottEvidence Quote
“And when there's a flight to safety, America is sort of a Giffen good... when there's danger, when there's insecurity, there's a flight to um US stocks, and we are somewhat immune and don't have the same invested interest in the global health”
Source
What To Do In The Most Uncertain Market In Years | Prof G Markets— The Prof G Pod – Scott GallowayCreated: 8/12/2026, 6:08:50 PM
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