No, There Isn't Going To Be A Global Coffee Shortage

No, There Isn't Going To Be A Global Coffee Shortage by Daniel Bier, Foundation For Economic Education

Prices, how do they work?

Did you hear about the imminent global coffee shortage? How about that looming whiskey supply crisis? It's a classic clickbait formula:

1. Take a wonderful product that many people enjoy.
2. Tell them it may disappear soon.
3. Profit.

For instance, on Thursday, the Huffington Post breathlessly reported, "If the world doesn't find a way to produce more coffee, and fast, it's very possible that we could see a shortage."

Actually, no, it's not. But why do people think there will be?

Andrea Illy, the chairman and CEO of Illycafe SpA, a Trieste, Italy-based coffee roaster, told Bloomberg last week that global production will...

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