Todays consumption, Boskin Commision and Pensions
Some weeks ago I went to visit a friend of mine from the high school, Paco Caballero, he is an entrepreneur, and managed his own telecom office . We were talking and he said something very interesting, in our day, with the crisis unemployment, and so on so forth, everyone wants a iphone or other smart phone, everyone. Currently we are facing a deep crisis; however people do not leave to buy luxury goods. But what is expected to happen with the consumption pattern in such cases, first it is not the first time, so we have another ones like the cases of Argentina at the beginning of the century and what economist observe is that people buy less but go shopping more often, it means that people expend more time comparing products and prices, they get the most out of their money. But what happens with the smart phones, well they are a product which combines many other, and their election could be more rational than we can think at first glance, because they represent a new ...