“The richer people, when they get another $100,000, or another million, or 10 million, don't tend to spend it as much as the poorer people would if they got another $100 or $1,000 or $5,000. All the empirical evidence suggests that the rich tend to consume a lower proportion of income than middle and lower-income people.”
Quote by Adair Turner, Baron Turner of Ecchinswell
Author
Adair Turner, Baron Turner of Ecchinswell
Adair Turner, Baron Turner of Ecchinswell, is a British author. Born on October 5, 1955, he is known for his works in the fields of economics and public affairs. more
You May Also Like
“Nature is earlier than man, but man is earlier than natural science.”
“If only opening a Vitamin Water could be classified as working out.”
“Do not make mistakes about character. Better be cheated in the price than in the quality of goods.”
Source: The Art of Worldly Wisdom
“One must treat theory-in-use as both a psychological certainty and an intellectual hypothesis.”
Source: Theory in practice: increasing professional effectiveness
“Entrepreneurship is the launching of surprises.”
Source: Knowledge and Power: The Information Theory of Capitalism and How it is Revolutionizing our World