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
Famous quotes containing the word expenditure:
“The putting into force of laws which shall secure the conservation of our resources, as far as they may be within the jurisdiction of the Federal Government, including the more important work of saving and restoring our forests and the great improvement of waterways, are all proper government functions which must involve large expenditure if properly performed.”
—William Howard Taft (1857–1930)