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:
“War-making is one of the few activities that people are not supposed to view “realistically”; that is, with an eye to expense and practical outcome. In all-out war, expenditure is all-out, unprudent—war being defined as an emergency in which no sacrifice is excessive.”
—Susan Sontag (b. 1933)