Neighborhood Effect

I recently came across a very interesting finding. How the fortunes of one person increases the spending of the entire neighborhood.
Isn’t it interesting that just to show off and for senseless vanity we often are driven to over spend and live beyond our means.

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One thought on “Neighborhood Effect

  1. Ankur, there is a similar story which I read from a 12th std text book (of TN state syllabus) few years back. In a very docile and dull town, just a few weeks before Christmas, the mood is rather sober because none of the inhabitants have had a good business to make a fortune to celebrate Christmas. One fine day, a man goes to the only car showroom and orders for a car. The wife on overhearing this deal, thinks her husband is going to make big business and orders for a grand necklace in the town’s jewellery shop. The owner of the jewellery shop happy with his, goes to buy dresses for his whole family from a tailor, who in turn orders a big cake. This triggers a chain reaction which sees the whole town buzzling with activity and everyone is happy. Then in a day or two the man who ordered the car is picked up by men of the local mental asylum. The man had escaped from there. However the town is still happy!

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