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.
Read more about Expenditure Cascades: Example, Positional Externalities, Possible Solutions To The Problem of Positional Externalities
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“To predict the behavior of ordinary people in advance, you only have to assume that they will always try to escape a disagreeable situation with the smallest possible expenditure of intelligence.”
—Friedrich Nietzsche (1844–1900)