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I also read a partial rebuttal which amounted to "Rich people pay less because they can buy more durable boots, but they also pay more because they buy fancier
by Jiro 5y ago
I also read a partial rebuttal which amounted to "Rich people pay less because they can buy more durable boots, but they also pay more because they buy fancier boots, and the increased expense from buying fancier boots is more than the savings from the boots lasting longer."
There's also the question of why the poor person doesn't take out a loan to buy the more expensive boots, and pay off the loan with the money that he saves from not having to continually buy pairs of cheaper boots. Many poor people still have credit cards, and even the ones who don't can often trade favors or get loans from relatives.
And even the response "they should save up for the boots" isn't obviously wrong. For obvious reasons it's hard for poor people to save, but how often is it so hard that something like this isn't possible?