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Yup. The real question is the only side effect of it higher produce prices? It seems the wealthy elite have decided to peasants don’t really matter anymore and who gives a fuck with the cost to survive there’s too many of them anyway. /s
Coming to a developed country near you. The elites have made up their minds. And they settled on the fact that we can all die except them.
Their secluded private island/bunker/fortress will eventually run out of food to water or face some catastrophe/hurricane/earthquake. Not much place or people to farm. They can have all the money in the world and no knowledge on how to survive.