When the rich build bigger, they shift the frame of reference that shapes the demands of the near rich, who travel in the same social circles. Perhaps it's now the custom in those circles to host your daughter's wedding reception at home rather than in a hotel or country club. So the near rich feel they too need a house with a ballroom. And when they build bigger, they shift the frame of reference for the group just below them, and so on, all the way down.
The private sector is first of all much larger than the public sector. The waste we see in that sector does not result from the fact that people spen… - Robert H. Frank
The private sector is first of all much larger than the public sector. The waste we see in that sector does not result from the fact that people spen…
- Robert H. Frank
For the three decades after WWII, incomes grew at about 3 percent a year for people up and down the income ladder, but since then most income growth … - Robert H. Frank
For the three decades after WWII, incomes grew at about 3 percent a year for people up and down the income ladder, but since then most income growth …
If government is inevitable, the challenge is to come up with the most effective one possible. - Robert H. Frank
If government is inevitable, the challenge is to come up with the most effective one possible.
The most glaring deficiency in traditional economic models is that they completely ignore the role of context in evaluation. - Robert H. Frank
The most glaring deficiency in traditional economic models is that they completely ignore the role of context in evaluation.
Pass down values every day through your actions, your words and your time with your kids. - Robert H. Frank
Pass down values every day through your actions, your words and your time with your kids.
All parents want to send their children to the best possible schools. But because a good school is a relative concept, a family cannot achieve its go… - Robert H. Frank
All parents want to send their children to the best possible schools. But because a good school is a relative concept, a family cannot achieve its go…
No one could argue with a straight face that the couples getting married today are much happier just because their wedding celebrations cost three ti… - Robert H. Frank
No one could argue with a straight face that the couples getting married today are much happier just because their wedding celebrations cost three ti…
In short both the things we feel we need and the things available for us to buy depend largely—beyond some point, almost entirely—on the things that … - Robert H. Frank
In short both the things we feel we need and the things available for us to buy depend largely—beyond some point, almost entirely—on the things that …
A good school is a relative concept, and the better schools are located in more expensive neighborhoods. But when everyone bids more for a house in a… - Robert H. Frank
A good school is a relative concept, and the better schools are located in more expensive neighborhoods. But when everyone bids more for a house in a…
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