Assumptions
Three main assumptions of the Psychological Law are:
1.Normal Conditions: Firstly, the psychological law applies only under normal conditions and when there is no danger of war or cold war, depression, boom, political upheaval, revolution etc.
2.Psychological and Institutional Complex remains the same: It means that there is no change in the psychological and institutional complex, such as population, tastes and preferences, habits of the people, fashion, prices etc. except change in income.
3.Capitalist Economy based on Laissez- faire: The psychological law applies to free and prosperous economies and does not hold well in socialist and under-developed economies. This is because, in a free economy, the people can consume any kind of goods they want, according to their necessities and desires and also there is no interference of the government in the economic affairs.
Read more about this topic: Fundamental Psychological Law
Famous quotes containing the word assumptions:
“What a man believes may be ascertained, not from his creed, but from the assumptions on which he habitually acts.”
—George Bernard Shaw (1856–1950)
“All of the assumptions once made about a parent’s role have been undercut by the specialists. The psychiatric specialists, the psychological specialists, the educational specialists, all have mystified child development. They have fostered the idea that understanding children and promoting their intellectual well-being is too complex for mothers and requires the intervention of experts.”
—Elaine Heffner (20th century)
“Unlike Boswell, whose Journals record a long and unrewarded search for a self, Johnson possessed a formidable one. His life in London—he arrived twenty-five years earlier than Boswell—turned out to be a long defense of the values of Augustan humanism against the pressures of other possibilities. In contrast to Boswell, Johnson possesses an identity not because he has gone in search of one, but because of his allegiance to a set of assumptions that he regards as objectively true.”
—Jeffrey Hart (b. 1930)