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I agree that this could in principle happen, for some values of cars. It could also literally happen with shoes, you can walk a lot more miles in $200 hiking bo
by iguy 8y ago
I agree that this could in principle happen, for some values of cars. It could also literally happen with shoes, you can walk a lot more miles in $200 hiking boots than in four pairs of $50 sneakers. And in GGP's example, someone with time to shop around, and a credit card could buy the exact same crappy microwave for $40 online, instead of $50 downtown right now.
What I'm disputing is that this is anything like the pattern, and that this is useful for thinking about poverty. People with more money spend more money on their cars, their clothes, their kitchens. They aren't staying rich by their ability to save 5% on their (larger) electricity bills by paying on time.
- dorchadas 8y agoThe thing is that it all adds up, and poor people are constantly being forced to repurchase simple things. Yes, well off people might spend more on cars, clothes, etc., but they don't have to do it as often. Overtime, the fact that poorer people have to buy more often adds up to them spending more money. Plus, it means they don't have any time to save up the money, since they always have to worry about replacing something frequently as opposed to 10 years from now. I've seen it with people buying jeans for work. Buying the cheapest quality jeans possible from a Rural King, and then having to buy another pair again in a few months. Same with tennis shoes from Payless Shoes, for instance, versus buying Nike.