Economic Theories
Most economic theories assume there is only one income stream to a household; this a useful simplification for modeling, but does not necessarily reflect reality. Many households now include multiple income-earning members.
Read more about this topic: Household
Famous quotes containing the words economic and/or theories:
“Just as men must give up economic control when their wives share the responsibility for the family’s financial well-being, women must give up exclusive parental control when their husbands assume more responsibility for child care.”
—Augustus Y. Napier (20th century)
“Whatever practical people may say, this world is, after all, absolutely governed by ideas, and very often by the wildest and most hypothetical ideas. It is a matter of the very greatest importance that our theories of things that seem a long way apart from our daily lives, should be as far as possible true, and as far as possible removed from error.”
—Thomas Henry Huxley (1825–95)