Giffen Goods

I’m not the kind of person who moves on easily, as lovely as that must be. The truth is that I see hurt in everything; it feels like something I can’t escape from. Hurt is a monster in my head made of a million different faces, names, things, and places. Hurt is the thing that I let go of over and over that reappears like a glass shard hidden deep under my skin. The laws of supply and demand tell me that rare things are more valuable, and it’s the only law that makes it ok for me to care so much about getting love from people who hate me. But hindsight is Giffen goods with Veblen coats.

Typically, items with lower prices sell more than those with higher prices. But in the case of Giffen goods and Veblen goods, the higher price makes them sell more. The difference between them is that Veblen goods are characterized by a high price for luxury items. In contrast, Giffen goods have a high price for low-quality items that have no cheaper alternatives. When I look back on all the things and people I’ve loved, it’s easy to see all the ways that my investment was worth it. All the happy memories. But it’s hard for me to know that I spent my time and energy on things that didn’t add anything to my life. So, I reminisce about the good things again and again, and wonder how I ended up so hurt, when in reality I was investing in Giffen goods.

The laws of supply and demand tell me that rare things are more valuable, but if something is infinite, how valuable is it? The laws of supply and demand say worthless, so it’s no wonder that I take the priceless love of God for granted. If it is freely given and infinite, how can it be valuable in a world where everything is earned and temporary? It’s hard for me to get my head around someone that I don’t have to work to get love from. Someone who will never hurt me, and someone who will help me to grow. Why would I invest in anything else? Why would I strive to earn something temporary when the infinite God thinks I’m a Veblen good worthy of giving His son for? The truth is that I shouldn’t, but I do.

I invest in things that will one day destroy me. I give them my time, my attention, and my affection. Over and over again, in little ways and in big ones. And then I get hurt, and then the hurt sticks with me, and then I drop it and pick it up and drop it again. But God shows me again and again that there is a way out, and He wants to show it to you, too. 1 Corinthians 10:13 (NIV) says:

No temptation has overtaken you except what is common to mankind. And God is faithful; he will not let you be tempted beyond what you can bear. But when you are tempted, he will also provide a way out so that you can endure it.

The temptations that I am constantly fighting, the faces, the people, the things, the places; all of the things that are Giffen goods are things that I don’t have to invest in. It is not that we shouldn’t invest in people. People are worth loving, but I cannot expect them to fill a void only God can fill. The Lord has provided me with a way to escape from these temptations; all I have to do is seek His help, and He is sure to be with me. So, ask yourself: what low-quality items are you investing in that are making you pay a high price? Is it a false truth? Is it something that is distracting you from the voice of God? Is it a person who is pulling you away from God’s plan for you? Pray and ask God to show you what your Giffen goods are, and ask Him to show you His plan for your redemption. Let’s not be disillusioned by the things in our lives that wear Veblen coats. Some things only seek to hurt and destroy us, so we must not be deceived into trusting. Let’s pray that God will keep us vigilant and connected to His will. Praise be to God and blessings be upon you, Amen.

(1 Corinthians 10:13, NIV) No temptation has overtaken you except what is common to mankind. And God is faithful; he will not let you be tempted beyond what you can bear. But when you are tempted, he will also provide a way out so that you can endure it.

By Aubree Nelson

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