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Expenditure Cascades
Expenditure cascades is an economic term coined by researcher Robert H. Frank. It describes changes in purchasing and consumption behaviour which ripple through the levels of income in response to changes in income inequality. Example During the late 1900s and early 2000s, income inequality in the United States rose dramatically, and expenditure cascades occurred. During the 1980s, the income-tax structure was altered to favor top earners in regards to after-tax purchasing power. Positional externalities Expenditure cascades employ positional externalities, which may be inter-related differently from other types of externalities. When a new purchase changes the context within which an existing positional good is evaluated, a positional externality occurs. In situations where a good is upgraded and becomes a popular item to own, that good becomes a positional externality. It has changed the context within which that good exists. Positional Externalities also have an effect o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Robert H
The name Robert is an ancient Germanic given name, from Proto-Germanic "fame" and "bright" (''Hrōþiberhtaz''). Compare Old Dutch ''Robrecht'' and Old High German ''Hrodebert'' (a compound of '' Hruod'' ( non, Hróðr) "fame, glory, honour, praise, renown" and ''berht'' "bright, light, shining"). It is the second most frequently used given name of ancient Germanic origin. It is also in use as a surname. Another commonly used form of the name is Rupert. After becoming widely used in Continental Europe it entered England in its Old French form ''Robert'', where an Old English cognate form (''Hrēodbēorht'', ''Hrodberht'', ''Hrēodbēorð'', ''Hrœdbœrð'', ''Hrœdberð'', ''Hrōðberχtŕ'') had existed before the Norman Conquest. The feminine version is Roberta. The Italian, Portuguese, and Spanish form is Roberto. Robert is also a common name in many Germanic languages, including English, German, Dutch, Norwegian, Swedish, Scots, Danish, and Icelandic. It can be use ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Purchase
Purchasing is the process a business or organization uses to acquire goods or services to accomplish its goals. Although there are several organizations that attempt to set standards in the purchasing process, processes can vary greatly between organizations. Purchasing is part of the wider procurement process, which typically also includes expediting, supplier quality, transportation, and logistics. Details Purchasing managers/directors, and procurement managers/directors guide the organization’s acquisition procedures and standards. Most organizations use a three-way check as the foundation of their purchasing programs. This involves three departments in the organization completing separate parts of the acquisition process. The three departments do not all report to the same senior manager, to prevent unethical practices and lend credibility to the process. These departments can be purchasing, receiving and accounts payable; or engineering, purchasing and accounts payab ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Consumption (economics)
Consumption is the act of using resources to satisfy current needs and wants. It is seen in contrast to investing, which is spending for acquisition of ''future'' income. Consumption is a major concept in economics and is also studied in many other social sciences. Different schools of economists define consumption differently. According to mainstream economists, only the final purchase of newly produced goods and services by individuals for immediate use constitutes consumption, while other types of expenditure — in particular, fixed investment, intermediate consumption, and government spending — are placed in separate categories (see consumer choice). Other economists define consumption much more broadly, as the aggregate of all economic activity that does not entail the design, production and marketing of goods and services (e.g. the selection, adoption, use, disposal and recycling of goods and services). Economists are particularly interested in the relationship betwee ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Income
Income is the consumption and saving opportunity gained by an entity within a specified timeframe, which is generally expressed in monetary terms. Income is difficult to define conceptually and the definition may be different across fields. For example, a person's income in an economic sense may be different from their income as defined by law. An extremely important definition of income is Haig–Simons income, which defines income as ''Consumption + Change in net worth'' and is widely used in economics. For households and individuals in the United States, income is defined by tax law as a sum that includes any wage, salary, profit, interest payment, rent, or other form of earnings received in a calendar year.Case, K. & Fair, R. (2007). ''Principles of Economics''. Upper Saddle River, NJ: Pearson Education. p. 54. Discretionary income is often defined as gross income minus taxes and other deductions (e.g., mandatory pension contributions), and is widely used as a basis to co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Slate (magazine)
''Slate'' is an online magazine that covers current affairs, politics, and culture in the United States. It was created in 1996 by former '' New Republic'' editor Michael Kinsley, initially under the ownership of Microsoft as part of MSN. In 2004, it was purchased by The Washington Post Company (later renamed the Graham Holdings Company), and since 2008 has been managed by The Slate Group, an online publishing entity created by Graham Holdings. ''Slate'' is based in New York City, with an additional office in Washington, D.C. ''Slate'', which is updated throughout the day, covers politics, arts and culture, sports, and news. According to its former editor-in-chief Julia Turner, the magazine is "not fundamentally a breaking news source", but rather aimed at helping readers to "analyze and understand and interpret the world" with witty and entertaining writing. As of mid-2015, it publishes about 1,500 stories per month. A French version, ''slate.fr'', was launched in February 20 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Income Inequality In The United States
Income inequality in the United States is the extent to which income is distributed in differing amounts among the American population. It has fluctuated considerably since measurements began around 1915, moving in an arc between peaks in the 1920s and 2000s, with a 30-year period of relatively lower inequality between 1950 and 1980. The U.S. has the highest level of income inequality among its (post-)industrialized peers.United Press International (UPI), June 22, 2018"U.N. Report: With 40M in Poverty, U.S. Most Unequal Developed Nation"/ref> When measured for all households, U.S. income inequality is comparable to other developed countries before taxes and transfers, but is among the highest after taxes and transfers, meaning the U.S. shifts relatively less income from higher income households to lower income households. In 2016, average market income was $15,600 for the lowest quintile and $280,300 for the highest quintile. The degree of inequality accelerated within the t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Purchasing Power
Purchasing power is the amount of goods and services that can be purchased with a unit of currency. For example, if one had taken one unit of currency to a store in the 1950s, it would have been possible to buy a greater number of items than would be the case today, indicating that the currency had a greater purchasing power in the 1950s. If one's monetary income stays the same, but the price level increases, the purchasing power of that income falls. Inflation does not ''always'' imply falling purchasing power of one's money income since the latter may rise faster than the price level. A higher real income means a higher purchasing power since real income refers to the income adjusted for inflation. Traditionally, the purchasing power of money depended heavily upon the local value of gold and silver, but was also made subject to the availability and demand of certain goods on the market. Most modern fiat currencies, like US dollars, are traded against each other and commodity mon ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Externality
In economics, an externality or external cost is an indirect cost or benefit to an uninvolved third party that arises as an effect of another party's (or parties') activity. Externalities can be considered as unpriced goods involved in either consumer or producer market transactions. Air pollution from motor vehicles is one example. The cost of air pollution to society is not paid by either the producers or users of motorized transport to the rest of society. Water pollution from mills and factories is another example. All consumers are all made worse off by pollution but are not compensated by the market for this damage. A positive externality is when an individual's consumption in a market increases the well-being of others, but the individual does not charge the third party for the benefit. The third party is essentially getting a free product. An example of this might be the apartment above a bakery receiving the benefit of enjoyment from smelling fresh pastries every mornin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Positional Good
Positional goods are goods valued only by how they are distributed among the population, not by how many of them there are available in total (as would be the case with other consumer goods). The source of greater worth of positional goods is their desirability as a status symbol, which usually results in them greatly exceeding the value of comparable goods. Various goods have been described as positional in a given capitalist society, such as gold, real estate, diamonds and luxury goods. Generally any coveted goods, which may be in abundance, that are considered valuable or desirable in order to display or change one's social status when possessed by relatively few in a given community may be described as positional goods. What could be considered a positional good can vary widely depending on cultural or subcultural norms. More formally in economics, positional goods are a subset of economic goods whose consumption (and subsequent utility), also conditioned by Veblen-like pric ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Positional Externality
Positional goods are goods valued only by how they are distributed among the population, not by how many of them there are available in total (as would be the case with other consumer goods). The source of greater worth of positional goods is their desirability as a status symbol, which usually results in them greatly exceeding the value of comparable goods. Various goods have been described as positional in a given capitalist society, such as gold, real estate, diamonds and luxury goods. Generally any coveted goods, which may be in abundance, that are considered valuable or desirable in order to display or change one's social status when possessed by relatively few in a given community may be described as positional goods. What could be considered a positional good can vary widely depending on cultural or subcultural norms. More formally in economics, positional goods are a subset of economic goods whose consumption (and subsequent utility), also conditioned by Veblen-like pr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Conspicuous Consumption
In sociology and in economics, the term conspicuous consumption describes and explains the consumer practice of buying and using goods of a higher quality, price, or in greater quantity than practical. In 1899, the sociologist Thorstein Veblen coined the term ''conspicuous consumption'' to explain the spending of money on and the acquiring of luxury commodities (goods and services) specifically as a public display of economic power—the income and the accumulated wealth—of the buyer. To the conspicuous consumer, the public display of discretionary income is an economic means of either attaining or of maintaining a given social status. The development of Veblen's sociology of conspicuous consumption also identified and described other economic behaviours such as invidious consumption, which is the ostentatious consumption of goods, an action meant to provoke the envy of other people; and conspicuous compassion, the ostentatious use of charity meant to enhance the reputation ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Keeping Up With The Joneses
Keeping is a surname. Notable people with the surname include: * Charles Keeping (1924–1988), British illustrator, children's book author and lithographer * Damien Keeping (born 1982), Australian rules football coach * Frederick Keeping (1867–1950), British racing cyclist * Jack Keeping (born 1996), English cricketer * Janet Keeping, leader of the Green Party of Alberta * Jeff Keeping (born 1982), Canadian Football League defensive tackle * Max Keeping (1942–2015), Canadian television news anchor * Michael Keeping (1902–1984), English footballer and manager (son of Frederick Keeping) * Tom Keeping (born 1942), Canadian politician * Walter Keeping (1854–1888), British geologist and museum curator See also * * Keep (other) * Keeper (other) Keeper may refer to: People * Keeper (surname) * Archivist * Beekeeper * Gamekeeper * Gatekeeper * Greenkeeper * Keeper of the Privy Purse * Keeper of the Royal Archives * Legal guardian * Lighthouse keeper * Mus ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
