Price shocks in formative years scar consumption for life
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Price shocks in formative years scar consumption for life
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Re: Price shocks in formative years scar consumption for life
#2Being poor in general, during your childhood, scars you for life.
It makes you penny wise and pound foolish, adverse to taking risks in your career and investments, can destroy your confidence in yourself, while always having to look over your shoulder monetarily speaking.
Habits that even after you remove poverty from your live, you still feel the the anxiety and triggers in your head.
Re: Price shocks in formative years scar consumption for life
#3"“Those who came of driving age during the oil crises of the 1970s drive less in the year 2000,” the paper found. The doubling of gasoline prices in the late 1970s saw that generation drive 3.6% to 8.7% less than those born earlier or later"
I can't find the paper, but when they say "born earlier or later" are they still looking at rate of driving in the year 2000?
If so, aren't they just comparing ages? People born earlier or later would just be younger or older in the year 2000, which likely impacts driving too.
Oh economics! You keep calling yourself a science, but you need to start acting like one!
Re: Price shocks in formative years scar consumption for life
#4"“Those who came of driving age during the oil crises of the 1970s drive less in the year 2000,” the paper found. The doubling of gasoline prices in the late 1970s saw that generation drive 3.6% to 8.7% less than those born earlier or later" I can't find the paper, but when they say "born earlier or later" are they still looking at rate of driving in the year 2000? If so, aren't they just comparing ages? People born…
Presumably if it was just based on age, the effect would be fairly uniform, instead of correlated to periods of price shock.
Re: Price shocks in formative years scar consumption for life
#5Yeah, we don't just burn gas driving everywhere.
"Scar consumption" as a phrase assumes that consumption in the American style is a healthy activity to begin with, and this outcome is damaging or ugly. "Permanently reduce consumption" would be more worthy of an academic setting, that title is clickbaity. Perhaps some will overdo avoidance of something because of fear of expense. Better than masses overdoing from building their lives around unsustainable inexpensive consumption. Look where we are for sprawl and emissions.
Re: Price shocks in formative years scar consumption for life
#6"“Those who came of driving age during the oil crises of the 1970s drive less in the year 2000,” the paper found. The doubling of gasoline prices in the late 1970s saw that generation drive 3.6% to 8.7% less than those born earlier or later" I can't find the paper, but when they say "born earlier or later" are they still looking at rate of driving in the year 2000? If so, aren't they just comparing ages? People born…
Link to Full paper https://cseveren.github.io/files/FormativeExperiences_Paper_... if that helps?
Re: Price shocks in formative years scar consumption for life
#7It's more that abundance in formative years spoils you for life.
Re: Price shocks in formative years scar consumption for life
#8Being poor in general, during your childhood, scars you for life. It makes you penny wise and pound foolish, adverse to taking risks in your career and investments, can destroy your confidence in yourself, while always having to look over your shoulder monetarily speaking. Habits that even after you remove poverty from your live, you still feel the the anxiety and triggers in your head.
I frequently encounter people and family with obvious issues arising from childhood, and 95% of the time their parents were poor as kids and thats where it all comes from.
On one hand these people are a pain to deal with, but in most cases its not their fault either.
Re: Price shocks in formative years scar consumption for life
#9It's more that abundance in formative years spoils you for life.
Extreme are often bad. Having either not enough, or excessively much early on, lead to various irrational or otherwise maladaptive behaviors later. Humans perform best in a happy middle range along many axes.
Re: Price shocks in formative years scar consumption for life
#10It's more that abundance in formative years spoils you for life.
Extreme are often bad. Having either not enough, or excessively much early on, lead to various irrational or otherwise maladaptive behaviors later. Humans perform best in a happy middle range along many axes.
This is so true. The middle is the best for most things in life. Too much pleasure can also mean pain