I first read about the concept of the rider and the elephant in Switch by Chip and Dan Heath. From that book I traced the source back to a guy called Jonathan Haidt, the author of The Happiness Hypothesis. He has been teaching psychology using this concept for more than a decade now.
Month: December 2013
Categories
Categories
The Success Curve
Categories
Wealth Consumption Effect
We first talked about Quantity Theory of Money some time back (click here for the post) focusing rather on the macro picture. For example how do money printing and manipulation of money supply become government’s propaganda tool.
Today we’ll take a look from a micro effect perspective, namely wealth effect and how does it affect us.
(source: http://tinyurl.com/mmf88jm). Refer to footnote for definitions.